einstein p fleet

Thursday Options Update: IYR, M, VALE, FCX, ABX & C,

Bought FCX at 22 and recently closed half the position, although I think they will report a monster quarter based on the the price of gold and copper. That said, it's hard to tell where the stock goes from here or the rest of the market for that matter.

FCX said that Chinese demand for copper remains robust and, if you can believe our own government, the recession is over. On the other hand, the USA is still printing money and seems to be unable to get a grip on any type of fiscal policy, which is causing several BRIC nations to consider alternatives to the dollar, including gold and silver.

Like I said, it's a tough market to wrap your arms around with so much uncertainty, both at home and around the world.