dr. copper gap filled. party's over

we get it, copper is having a moment. FCX tho is trading at a whack multiple. It's primarily rallying because the ^TNX isn't, once the cost to service 10 year debt goes up, this stock goes down. They aren't the only copper game in town, in fact they're #3. #1 is owned by the Chilean government, and #2 is BHP, that currently trades at under 30x, roughly 2/3 of what FCX does.

Bullish commodities, but short dumb trades. This thing will rip your face off, slap a chart of the ^TNX alongside it and buckle up 🤙🏽

Rolled into the weeklies puts on this, will continue rolling out if rates rise and this thing peaks, which I believe it's close to. All that said, nice run, good stock to swing trade if you can time it right

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puts in place to see this settle back into it's pitchfork. copper not going to save the world or lower the cost of building a home; if anything, it'll perturb buyers, forcing them to push out projects. Selling this high flyer, multiple conflicts with rising yields

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still think this thing is a blow off top, still in my puts here. Sub 40 PT, there's a ton of chunky support levels this thing can ping off of, the next real chance for this thing to possibly rally IMO is the FOMC minutes on the 19th