Sold out of $MDAS due to its breaking down below its flag.
Initiated a 1/2 long position in $GMXR.
My “tell” $FCX squeezing the shit out of all bears (no position).
Developing…
Joined Apr 1, 2010
8,861 Blog Posts
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Market seems weak to me as we hit overhead resistance, what’s your take on today’s action overall
It is very bullish, in my view. The temptation is to doubt it the whole way up. I will still be patient in adding to longs because if this is a sustained uptrend we will have time to overtake the 50 day, and then see it flatten out and rise again. But, barring any huge fade into the close, this a huge win for the bulls.
cNw,,,
re: FCX; note that the daily volume rather tepid for a short squeeze??? also Cu having a tough time holding the initial hi’s… http://www.kitcometals.com/charts/copper.html
I’ll sit this one out!
not saying I’m wildly bullish on FCX, but it is noteworthy today. Only price pays, and it has handled the key $66 level well thus far