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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (41558)	11/17/2003 8:47:18 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 74559

Commodities are in a bull market - and related shares i think this may be turning. look at a chart of FCX against NEM or the XAU. over the past year, FCX has outperformed both significantly, but on increasingly short time intervals (on month, 5 days), it has been underperforming. also, FCX did not take out its 52-week high in the latest gold-share rally, while NEM has pushed higher to new highs. FCX is an interesting stock imo because it is a play on copper, a play on gold, and a play on Indonesia. sometimes it seems to be a play on one more than the other. e.g., the day after the Bali bombing last year, it was an Indonesian play...to the downside. but now it seems more a copper play. also losing momentum here is PD.