iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,419 Blog Posts

Copper is Overbought; Stop Buying $FCX Now

Enough is enough. You really need to stop buying copper stocks, especially FCX. I don’t understand your fascination with China. It isn’t on the precipice of grandeur.

Shares of FCX are higher by 16% overt the past month. This is the absolute top.

You’ve been warned.

My time machine says sell copper now.

SCCO, TGB and BHP are equally reprehensible — but FCX is more equal than others. You cannot continue buying into the copper sector and expect to be comfortable when the world burns.

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7 comments

  1. sarcrilege

    Copper as collateral in China was over-rehypothecated many times over; thus, the high price. Copper may go a lot higher yet.

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  2. lesurgeon

    Where’s the. China/Russian sanction post?

    I rely solely on IBANKCOIN for news now, so..

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  3. matt_bear

    Throwing Copper was a great album.

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  4. bushwacker2

    Can there be a worse Chinese stock today than BZUN? Apparently it didn’t get the copper memo.

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  5. bushwacker2

    “Shares of FCX are higher by 16% overt the past month. This is the absolute top.”

    Ahem…you said that too about bitcoin, bro.

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