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FCX could be an interesting buy here: price seems stable and large players continue buying.
Note that the short interest was very low, which means that these large buyers are probably funds taking new long positions. I bought today and plan to sell half on a bounce to $34, keeping the rest for probably some longer term.
Pascal
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FCX is nicely bouncing here, even after all the downgrades of yesterday.
This is to show again that for short-term trading, upgrades and downgrades are only "price adjusted comments" which could be an opportunity for a "reversal to the mean" type of trade. In short: when the up/down grades come, the price has already adjusted itself for the short-term.
Pascal
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