FCX target price, +entry+exits[]… IWM trading sideways, 86+ target price

06 May2011
By

Trading idea: buy IWM.

Opened at 82.95 on 5/6/11.
sell 86.0+
commodity stock rally coming, no time frame, but within 5 days
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11 Companies with The Worst Reputations In America, click link
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update STRA it made 124 today 5-12
STRA on the buy watchlist, if you click on the chart finviz, and look at barclays target of 122-125, keep in mind, they have a history missing the high on STRA, by $25, click link
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update 5-12 AEM took the $2.00 profit, haven’t re-entered yet
bought AEM, today, you might get a better price than me, exit is 6%, above whatever the low turns out to be, click link for chart
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5-12 update, its been trading in a 2% channel for 5 days, now
FCX past price history and EPS trend combined into actionable entry and exits…yep.
use the exits on the chart, and keep the position size changing, when there’s some profits. FCX should trade 2% sideways 5 days, before it breaks to the upside exits…imo

gold chart

gold chart


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Category: Index charts
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  • http://zstock7.com/ zstock7

    Trading idea: buy AEM.Opened at 62.76 on 5/6/11.

  • http://zstock7.com/ zstock7

    april 18th chart CSCO…target 19, i got the low, but my position size sucked. http://zstock7.com/wp-content/uploads/2011/04/csco-4-18aa.jpg

  • http://zstock7.com/ zstock7

    CSCO TODAY CHART

  • http://zstock7.com/ zstock7

    good stuff. possible commodity rally, once
    NEM
    under / around 50…once NEM gets to its low 50 or so, the market will want to do price discovery to the upside.

  • http://twitter.com/Urbane_Gorilla Urbane_Gorilla

    I like BBands and Stochastics as well, but aside from the drop in commodities, it always bugs me when the last stochastic top is lower than the prior top and never hits 80… It would make me expect a similar pattern to the Jan – Mar period on the above chart. RSI doesn’t inspire confidence either.. Aside from that, I love FCX.

  • cmatt

    I tend to agree Z.
    Market appears to be heavily oversold, on commodity pressure, and dollar short covering.
    Seems a bounce is in order in the next few days, or the selling pressure will just intensify.

  • http://zstock7.com/ zstock7

    IWM CHART, Forks point up, a break below the lower fork, and that means new fork has to be drawn….forks only predict direction, not entry exits…85% probability, by the guy who does these forks.

    http://content.screencast.com/users/Cool_Beans/folders/Jing/media/f4c5461f-943f-4d2c-9824-acd367c4f873/2011-05-08_1253.png

  • http://zstock7.com/ zstock7

    FCX does have a weakening slow sto. i never noticed that.

    late feb, early mar, double dip CCI, and weakening slow sto, lead to a wall of worry rally, and slo sto back above 80. that might be possible

    same signal happening now

  • http://zstock7.com/ zstock7
  • http://zstock7.com/ zstock7

    long
    IWM
    on friday, sell 86, if nothing gets in the way of the plan, that’s the plan…

  • http://zstock7.com/ zstock7

    —

  • http://zstock7.com/ zstock7

    sector rotation has sort of worked like this. the next sector, the market is going to go in to, they take it down to support, then they break lower than the support, and fiddle there for a couple of days, and then go into that sector.
    pm’s are in the fiddle for a couple of days, part of the cycle. my best opinion on it.

  • http://zstock7.com/ zstock7

    $TDW almost at its rsi 30.2 buy signal

  • http://zstock7.com/ zstock7

    Overnight news Euro zone debt dominates, commodities rebound http://finance.yahoo.com/news/Euro-zone-debt-dominates-rb- 1978430102.html?x=0&.v=3

  • http://zstock7.com/ zstock7

    Trading idea: buy RIMM.
    Opened at 44.74 on 5/9/11.
    9 month low is 43. risk reward, where’s the risk. geo-political shock event

  • http://zstock7.com/ zstock7

    NEM eps is still as good as 5 month’s ago…yah oo page is misleading

  • http://zstock7.com/ zstock7

    TGT gets creamed when UGA goes up…lower class eats it

  • Anonymous

    CAT – Pretty good looking $10-$12 price channel. I’m thinking of shorting at 120 or going long at 107.

  • http://zstock7.com/ zstock7

    STRA i think the $112 last low will hold as
    support. education stock. i don’t know anybody that trades this sector. I
    make a lot of money trading this sector

  • http://zstock7.com/ zstock7

    opened a position on RIMM low of day 44.7…luck…i never get low of day.

  • http://zstock7.com/ zstock7

    bought more CDE at 26.6…LOL, THANKS LOTION, this thing just keeps on round tripping

  • http://zstock7.com/ zstock7

    made some bank today, NOV calls +30%,ACI calls +10%, was underwater -15%, so 25% move, and
    AEM
    +10%

  • http://zstock7.com/ zstock7

    looks about right to me, good revenues, year to year, eps estimate up 10%, past 90 days

  • http://zstock7.com/ zstock7

    shorting yum ual

  • http://zstock7.com/ zstock7

    I shorted YUM and UAL today. if you want a full explanation of why….this is why i charge a nothing $7.95 a month…it’s that little extra work, that deserves a cup of coffee, a month. btw, members up a potential 200% this month so far…although that would be crazy position sizing, so up 10 to 25% probably

  • http://zstock7.com/ zstock7

    NEW POST MDC LONG http://zstock7.com/?p=4640

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