Tuesday, February 22, 2011

Freeport McMoran Update

Below is a daily view of Freeport McMoran ticker FCX. Note the hi lighted area.

Below is a 60 min view to give a close up of the green hi lighted area.

Never underestimate the power of the Great Ponzi, which will stop at nothing to keep the charade going.

Could FCX rally past the 53-53.5 area on volume fumes?
Do you think we could close green today on the S&P?
Do you think everyone hates our domocracy and freedom overseas or maybe they hate our occupations coupled with drones strafing neighbourhoods?
Do you think a mushroom cloud over a major metropolis would be framed as green shoots (glowing shoots?) by the mainstream media pumpers.

With free money, HFT and suspension of rule of law yes's abound as anyting goes till it doesn't anymore.

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Short 1 unit Freeport McMoran ticker FCX @ $56.40 stop @ $57.76
Short 1 unit Darden ticker DRI @ $49.51 stop @ $60.11

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