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Interesting, "Petsamo"! Yes, FCX got stronger. But, in general terms, it is still weak. Right now, it has to break out above the next fan line, where it was stopped Friday. If the move looks strong, I might buy a small position and then I would watch if it can cross above the 37.8 zone.Petsamo wrote:I've been paying attention to FCX. I mishandled the sell point; got out with minimal gains.BullBear52x wrote:Have anyone looking at Copper daily formation lately?
The chart below compares FCX to IWM. The formula is IWM price * 60 / FCX price. The time is 5/28/10 to present. High numbers in the chart mean that FCX Is weak relative to IWM (Russels).
As you can see to the far right, the numbers turned south, meaning the FCX got stronger these past few days.
BREAK
Regarding the thesis that the bottom is in, evidence is in the chart below comparing Germany to Brazil.
The formula is EWZ price * 32 / EWG price. The time is 3/4/10 to present. High numbers mean EWG (Germany) is weak, relative to EWZ (Brazil). On the far right, the peak (Germany is weakest) occurred on 9/9/11. Falling numbers mean Germany has been getting stronger, relative to Brazil.
The caveat is FCX & Germany can always lose their strength & world markets can continue to dump. I'm keeping an eye on RSX (Russia) & HAO (China small-cap); they haven't gotten stronger.
Yes 99er! MORE CHARTS!99er wrote:BB52x: "TOS is down"
Try this: before logging in, click "Paper Money."
More charts, please.
That's a big change. "52x" and "52" are not same. like "3x ETF" and "3 ETF" are different.BullBear52x wrote:I re-register as BullBear52 have to drop the "x" wail for master Cobra to approve my new registration so I can log in on the other computer. I am writing everything everything down this time.
Yes, it is.silicon_beaver wrote:That's a big change. "52x" and "52" are not same. like "3x ETF" and "3 ETF" are different.BullBear52x wrote:I re-register as BullBear52 have to drop the "x" wail for master Cobra to approve my new registration so I can log in on the other computer. I am writing everything everything down this time.