Take Profits on Phelps Dodge
I have been getting increasingly anxious on short-term commodity prices – specially Copper. And was contemplating exiting my position in Phelps Dodge (PD) soon. Sometimes you pick stocks for the wrong reason – but you still pick it right. I had originally recommended the stock back on Oct 11th, on strong earnings growth and future appreciation potential and today the folks Freeport McMoRan (FCX) agreed on Phelps’ prospects, paying a 27% premium to shareholders of PD. If you bought it when I recommended it, you are sitting on a 33% gain. Its time to sell Phelps and put your money elsewhere.
– Faisal Laljee
Full Disclosure: I recently sold my long position in PD and do not own any shares currently. However, my positions can change any time, without notice.
stellar trade indeed. got a good overlap story, opened long on $10+ Billion market capitialization Southern Peru Copper- pcu about 2 weeks early then your Phelps Dodge long and the shares advanced 42s > 58s.
full considerations and expections, cheap enough to go up this week. zoltek-zolt. buy it now. the shares are sold off in the mid 22s. lifecell-lifc- buy it now. the shares are sold off in the mid 23s. qualcomm-qcom the shares have sold off $1.70 to 37.01-ish in 3 days. affemetrix-affx selloffs to $25s equate of appealing dip zone. EVERGREEN SOLAR -eslr- 12 day starter bounce 7.80s > 9.20 in action with steep whipsaws.
probably has demand and bounces off $8.50+. BONUS: Sunpower STP is equally appealing.
Evergreen Solar gains new broker coverage – BUY/$12 on wednesday. that would be 50% upside for dip buyers.
what are you speaking about just take profits?