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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Potential Gloom For Non-Ferrous Metals Sector 0 comments
    Mar 5, 2013 8:21 AM | about stocks: FCX, IPI, TCK

    By Jeff Pierce

    If support breaks watch out as this is going to crater. I selected 3 stocks in this sector to illustrate how weak it is and each one is in a different timeframe. Reason being is they all just about look the same on the daily, so when you see a daily, weekly, and 60 minute, you can see just how weak it is.


    $33.50 is a top or 60 on the RSI. Whichever comes first.


    Horrid daily chart. A watershed decline like that doesn't suddenly conclude with massive buying. Look for a bounce and short it. In fact, a bounce doesn't even have to happen. I'm bearish/neutral on this sector. It's either going up and then down in a big way...or just down.


    Weekly head and shoulders in play.


    Stocks: FCX, IPI, TCK
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