Freeport-McMoRan Hits Stop Loss
This is an update to our latest model portfolio report, 23 Stocks for February 2016.
Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) hit a stop loss in our theoretical Core Short Model portfolio today and will be assumed closed at the end of trading tomorrow. The stock is up 38.48% MTD for the equivalent short sale loss.
Our Core and Opportunistic Long/Short Model theoretical portfolios are up 6.54% and 9.45%, respectively, for the MTD.
The Opportunistic model is benefiting from a rebound in long positions after locking locking in a short sale gain on February 8, when it the short model assumed a 100% cash position just prior to the close that day.
For more details, including tables of updated price targets and theoretical returns, visit us at firstname.lastname@example.org.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: There are limitations inherent in our theoretical model results, particularly with the fact that such results do not represent actual trading and they may not reflect the impact material economic and market factors might have had on our decision making if we were actually managing client money.