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  • AvatarScott Pearcy
    Participant
    Post count: 298

    Sean what are your thoughts on Freeport McMoRan…or do we have that sector covered in our other Logical Investor picks in the portfolio? It appears to me that it has entered a Wave 3 after a long sideways consolidation (10-yr chart)….

    • This topic was modified 1 month, 1 week ago by AvatarScott Pearcy.
    Sean HymanSean Hyman
    Moderator
    Post count: 2794

    We have enough exposure to commodities and commodity stocks already.

    Their forward P/E of 185 and global economic softness would be enough to keep me away from them right now.

    AvatarScott Pearcy
    Participant
    Post count: 298

    It is an older holding from one of the “Other Newsletters” and has recently become profitable…..Sold it at 5+% profit to free up cash for Logical Investor Portfolio picks….

    Sean HymanSean Hyman
    Keymaster
    Post count: 3415

    Awesome. Yeah, we’ve even owned it in the past when the numbers were more favorable.

    FCX is probably in a wave 3 and could go up. But it’s present fundamental weakness just makes me stay away. For me, it’s always fundamentals first and technicals/sentiment after that. My confidence comes mostly from the fundamentals and the other helps to get a read on it and fine tune entries/exits.

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