Inflationary forces are pushing Freeport Mcmoran (FCX) higher. (September 07, 2012)

by DAN FCX 
I’m Dan Fitzpatrick at StockMarketMentor.com on Saturday, September 8th. Over on Stock Market Mentor, on the premium side, we’ve been talking about a lot of volatility squeezes that are working pretty well and I just wanted to show you one here on Freeport Mc ( $FCX Freeport-McMoRan Copper & Gold Inc ). We looked at Biogen ( $BIIB Biogen Idec Inc ) last week and that turned out to be a good one too, but I’m just showing you one from a different configuration instead of being up here; Boom! And it broke out, this is actually coming out from a bottom; Bollinger Bands are pretty tight, quite tight here and then on Friday this stock really broke out hard, like on mega volume, like more than twice average volume. The stocks gone up pretty big two days in a row; from Wednesday’s close the stocks up almost 12 percent so that’s a pretty big move. The thing about these squeezes is, they tend to go farther and faster than you might think, so if you’re just standing aside you may be standing aside quite a while. Here though, I do think you’ll get some time over the next week or so, I just think you’re going to get some kind of pullback or some sideways drift to kind of buy here; I just have a really tough time buying there, a really tough time. That’s what I have to say about Freeport ( $FCX Freeport-McMoRan Copper & Gold Inc ). Members get over to the Weekend Update, I’ve got a special video on those squeezes that we looked at last Thursday; anyway I’ll see you on Monday night.

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