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peng

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peng

Re: EZ2 post# 3303

Thursday, 01/18/2007 1:39:10 PM

Thursday, January 18, 2007 1:39:10 PM

Post# of 7293
The question? Why is FCX not following other gold stocks...

First, today opened higher both gold and copper moving north... FCX has a muted gain... just a few cents...

Then, gold shifted away from it's highs... and so did copper... now both are significantly in the red.

So, why did FCX stay in a relatively tight range. Seems someone is trying to load up... but isn't willing to overpay. Someone is using the retail selling to build up a share count.

that is my only explanation... while gold was going from down .10 - down $5.60... FCX was actually rebounding... at the same time Copper was losing ground... FCX was rebounding...

Any other thoughts as to why there is clearly support in this area?
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