Dark Money Sell Alert: Take An 88% Gain On FCX Calls

CX reported earnings recently and management’s guidance was bullish with a forecast of rising production in mining. As a result, a strong rally occurred for the stock. Given the economic sensitivity of copper prices, and the election-related turmoil that still might lie ahead, FCX could surrender some of its gains before its January option expiration so we recommend taking gains. Also, with a growing fear that CME’s interest rate futures volume will remain low for years into the future, we recommend selling that position today as well.

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Dan Amoss

Dan Amoss, CFA, tracks aggressive accounting and other red flags that markets miss. He’s a student of the Austrian School of economics and Daily Reckoning fan since 2000. Agora Financial relies on Dan for macro market commentary as well as profitable plays like his 2008 call to readers to buy Lehman Bros. puts, which...

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