The Weekly Whisper from the Dark Pool: Freeport-McMoRan
08/17/2017 2:59 am EST
Hello there, Stefanie Kammerman, the Stock Whisperer, here to tell you the Whisper of the Week from the Dark Pool for August 16: FCX. And, a recap of past Whisper performance of bond ETFs, especially TLT, in my weekly Thursday video and transcript.
Before we get to this week’s Whisper, we have to talk about the last Whisper. If you had a chance to listen and watch on August 3, we had those massive prints on the bonds coming in:
iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD)
iShares TIPS Bond ETF (TIP)
Schwab US TIPS ETF (SCHP)
My favorite way to trade those bonds is iShares 20+ Year Treasury Bond ETF (TLT). You get the most liquidity on those options. If you recall, we were bullish above this $125 level. Really, really key level.
However, check out this weekly chart. You can see we are hitting the top of this weekly wedge. If we can get out of the top, there is a tremendous room to go, all the way to $130, $135, $140 and possibly $142.50. So keep your eye on that wedge.
Also, if you recall on July 26, I did a Whisper on iShares Gold Trust ETF (IAU). Now there is a 15 million print coming into IAU, that’s the Dark Pool favorite. This has been an unbelievable trade. I still love gold.
What are we watching this week? I got my eye on Copper. Freeport-McMoRan (FCX).
I was trading this all day long in my Live Trading Room yesterday (August 15). Love it. If we could break above $15. Check out this weekly chart. If we could break above this top resistance area of $15, there’s a really great swing up to $17.50 and possibly higher.
But check out this: copper futures. Here’s a weekly chart. I absolutely love this inverse head and shoulders formation with massive volume coming into these futures lately. I do have a high-end target of $3.60 on those.
If you’re going to be in the San Francisco area, I’m going to be presenting at the San Francisco MoneyShow next week. I’m going to be sharing all my hottest stock picks with you at the show and of course, how to profit off the Dark Pool.
Come watch me trade all day long in the Java Pit.
Recorded: August 16, 2017