Cramer has been hyping this stock for the last 2 months now it just made new lows and no divs to back it up. I might pick up some shares in the low teens for my long term portfolio and another batch around $7.
he has been warning people thatthe divi was vulnerable but at the same time advocating it as a buy???I agree at some point i would want to buy fcx as a core commodity play along with nov,x,chk and some nat gas...this stuff is so oversold but can go lower...looks like they are looking for depression.
I damn near blew my account out in a combination of BHP/FCX/NEM/RTP...got super-overleveraged in too much size, could have taken lots of rolls/lightened up but didn't now i was forced too...ugh think i may take a break from posting for awhile
commodities will be where it's at eventually once big time inflation kicks in in 2011 or 2012. But if you buy now at bargain prices, i think you must be prepared for a long wait.
Hilarious. Cramer wisely closed his fund Dec 31, 2000 and retired with $50m in the muni bonds. He would have been ripped to shreds in 2001 and 2002.