Stocks for the Rest of Us
Freeport McMoran FCX = SELL!!
This is what a SELL looks like. FCX is setting up for a classic double top here and considering the run it’s had in the past few days you’d be crazy not to sell this. MACD is starting to wane and the overall market is looking a little bit tired. We’re running into resistance here and there’s no support until about 52 when the 50 day moving average comes into play. Furthermore, volume is starting to wane as well indicating a lack of sponsorship up and these levels. SELL!!

| Print article | This entry was posted by brian on July 27, 2009 at 11:44 pm, and is filed under Focus Trades. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site. |
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