Freeport-McMoRan, Inc. (FCX) Social Stream
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$FCX I've been a big bull for copper since Jan 2020, before the pandemic, but I've been selling my calls after China announcing it will release from it's strategic reserve. #1 rule of investing is don't fight the fed, which had a hawkish tone yesterday. #1 rule of investing in commodities is don't fight China. The China credit impulse just came out today and it was ugly. Hope I'm putting in a bottom here as long term this is a tremendous investment, but the narrative right now is as ugly as you can getDhoff10, published June 17, 2021
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$FCX Jun 10
FCX stock forecast
◆ Suitable Investment Position
◆ RSS feed. 10-Day Stock market forecast
◆ Forecast of Upper~Lower price band for the next 10 days
Price: 38.64 ~ 40.19
% Change: -3.65% ~ 0.23%
The strength of supply and demand(S&D) is suitable for the current trend and it's in the midst of a downward trend of strong downward momentum price flow marked by temporary rises and strong falls in a falling section.
$FCX Multiple insights in the last few minutes:
1. 📜 SEC Form 4 filed by Freeport-McMoran, Inc.
2. 📜 SEC Form 4: Dudley Robert W. was granted 3,800 units of Common Stock, increasing direct ownership by 543% to 4,500 units
3. 📜 SEC Form 4: STEPHENS JOHN JOSEPH was granted 3,800 units of Common Stock, increasing direct ownership by 10% to 40,780 units
4. 📜 SEC Form 4: KENNARD LYDIA H was granted 3,800 units of Common Stock, increasing direct ownership by 4% to 105,800 units
5. 📜 SEC Form 4: MCCOY DUSTAN E was granted 3,800 units of Common Stock, increasing direct ownership by 3% to 132,600 units
$CLF $X $FCX $MT $F
In our last report a week ago, scrap market sources throughout the US revised their prediction for June settled prices down by $20/gt, noting that an up $30/gt market in June (as opposed to the predicted up $50/gt, which was suspected in the middle part of the month) was more likely. The rationale for last week’s shift was linked to several factors, including a perceived lack of support from the export market and the fact that some mills had begun to use HBI as an alternative to scrap.
This week, sentiment has shifted once again, and all sources polled now believe that “up $50/gt is in the bag.”
“Based on the conversations I’ve had; I’m hearing that up $50/gt [for cuts and shred] is a slam dunk. Shipments into various mills are still happening at a snail’s pace and a lot of people still owe scrap on their May orders,” he said. “People are having a tough time getting their hands on trucks and rail cards, and it seems as if the market has a lot of upsides.”
This is amazing! What do you think? $FCX in Downtrend: its price may drop because broke its higher Bollinger Band on May 7, 2021. View odds for this and other indicators: https://srnk.us/go/2761154tickeron, published May 25, 2021