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 Scott Pearcy.
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.