FCX is another individual issue that's gives great clues co-relational to the macro
it bottomed during the Jan. 09' low and was rising into the March 09' S&P low
FCX displaying the classic 1 – 2 -3 dance, put it's TOP in on 1-11 (i'm sure it was a coincidence)
broke down below the knot of contianment pts. in January breaking it's string of higher lows on the Daily. The corrective rally into the 3.17 highs which was below the 1st of 3 distribution pts.
Go Carl go!
Carl sold one unit at 1159.50
Let's just hope that sticks!
it's open & LOD was 16.17
FCX is another individual issue that's gives great clues co-relational to the macro
it bottomed during the Jan. 09' low and was rising into the March 09' S&P low
FCX displaying the classic 1 – 2 -3 dance, put it's TOP in on 1-11 (i'm sure it was a coincidence)
broke down below the knot of contianment pts. in January breaking it's string of higher lows on the Daily. The corrective rally into the 3.17 highs which was below the 1st of 3 distribution pts.
http://www.flickr.com/photos/47091634@N04/44456…
Call me crazy but the vix low on Yahoo finance keeps toggling back from 16.17 to 16.31. I watched it go below 16.23.
De-leverage I mean!
VIX just hit containment!
I get it. 59.89/1.887454 = 30.69 and 30.69/1.887454 = 16.26
Carl is Long one unit at 1163.25