Sunday, June 19, 2016


Basic materials have been the second worst performers over the past year, down 16.6%, just ahead of Conglomerates which are down 23%, but they are the best performers over the past quarter, and second best over the past month and six months, just in back of the safe haven utilities with their sky high P/E's.

Now, should the British public vote to leave the EU, it's my theory that in a fit of rage over the dumb ass peon's voting them out of their cushy bureaucratic EU jobs the British PM's will completely destroy England just to show the public that their dire predictions came through, and thus England will need lots of materials to rebuild, and become one of the fastest growing countries in the world.
I have always loved material companies, thus:

Both FCX, at the top, and AA have the same pattern on the weekly charts, a first thrust, then a pull back, and have gone sideways for six weeks and could, and I emphasize, COULD, be setting up for an "EQUAL MOVE" for the next wave higher. The target for AA is right at the highs from a year ago just above $14, and for FCX it's in the center of the consolidation around $20 just before the massive break down to $3. FCX also, MAY, be working on an INVERSE Head and Shoulders formation that, COULD, be projecting to the $24 "area".
The BEST part is that they have very, VERY, clear stops, and I'd tell you what they are, but I don't want to insult your intelligence, plus, if you don't know you obviously have no trading plan what so ever and have no business trading stocks. 


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