1. P, 79%
2. FCX, 76%
3. X, 75%
4. TWTR, 67%
5. STX, 57%
6. ABX, 56%
7. NFLX, 56%
8 GG, 53%
9. SLW, 52%
Naturally, we are coming into earnings season here, so there's a reason that some of these have high IV here (e.g., NFLX announces in a week and a half). Ordinarily, I like IV to be >50% and IVR (current IV's level relative to where it's been for the past 52...
We have a very interesting setup derived from the spread between oil and copper, also present in CADUSD and AUDUSD, due to the correlations with these instruments.
You can enter longs in AUDCAD and FCX, and short oil (be it CFDs, futures, ETFs, take your pick). You could replace by copper CFDs or futures as well, but FCX just happens to have a nicer looking...
If the market continues lower from passing below the 50MA on Friday then I will be watching FCX for a short during the breakdown below $10.30 support level. This is mirroring the market being that it has also crossed below the 50MA, will be watching the market to see my move on this one.
Long term I'm bullish but if we can get a lift in USD and see metal take a dip we could be looking at a near term high. In an ideal world we bounce up to fill gap at 13 and then roll over and drop back to $5 levels. Tough to believe it could take such a battering but those gaps are there to be filled. One to watch this week.
HBM tagged teh 25DMA and with good volume is moving higher. The recent sell off has reset the RSI and is nearly there on the %R. 50% retracement on the Fibo looks good. I supect this is a low risk spot to get in and ride up to $6.50. Set a stop below the 25sma.
My update for FCX,
I mentioned this stock as an idea for short. the trade is a daily trade, the stock is still weak.
Stock is forming now what's called mashroum over shape or in other hands H&S shape
The stock hits the resistance at point (A) and the low of point (B) both are strong resistance , we might see an upthrust tomorrow meaning making new high...
Looks like FCX price linger point may be around $11.20 - $11.50. This is neither a recommendation nor advice for any trade. It is my own trade journal to improve chart reading skills and validate price predictions. Typically my target price is supposed to hit before hitting nearest swing low/high (depending on if price prediction is long or short)
Start of a long term long for this stock. Bottoming and forming a nice five wave impulsive pattern. First target met at 8.71, extension to 9.67 next. If it holds there, looking for 7.33-5.88 for a corrective pullback to add to position and get a nice wave 3.
In "Gold Leaps Higher as Worries Mount," I briefly pointed out how those very same institutions that championed quantitative easing policies implemented by the Federal Reserve are now coming out to proclaim quantitative easing added no substantial benefit to the real economy.
Gold was pushed lower on the assumption that central banking policy would all pan out...
I am by no means an expert programmer or technician, but what I have been noticing with FCX is a relatively consistent pattern where option premium sellers have a great opportunity for enhanced success.
- On a 4 hour chart with Keltner channels, Bollinger Bands in the upper indicator and CM_WVF_v3_Ult in the lower indicator
1) When CM_WVF is in GREEN,...
FCX is currently in a downtrend. Expecting prices to correct to $34 (completion of AB=CD pattern) minimum or further down to $33 which is the longer term bottom trend support and completion of the harmonic pattern. Fundamentally undervalued compared to rivals. Get ready to switch over to a long position.