+18% on FCX
by Mike Paulenoff
September 18, 2015 • 5:37 PM EDT
On Sep 9 we noted in our Trading Room and on MarketWatch that copper could be in the midst of a significant upside reversal. We noted the positive macro trends, including the correlation with 10-year yield, as well as the strong technicals, and then pointed to a leading stock in copper that could benefit from the trend.
Since then, Freeport-McMoRan (FCX), which we also added that day as a short-term trade set-up, has run from our 10.63 entry to 12.59, where we exited today.
That gave us an 18.4% return, and was the 8th winning trade out of our last 9 set-ups!
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
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