This Stock Is Ready to Bounce Back

Hi Shoppers,

 

Look at the stock chart below.

 

It has gotten pounded recently, especially this week.

 

 

The stock is Freeport McMoRan (Ticker: FCX).

 

Now, I think the stock is ready to bounce from this big selloff. It dropped from $39.20 on Aug. 11, closing at $32.80 on Friday.

 

I see a hammer candle on Thursday followed by confirmation of a move higher on Friday.

 

I like buying the Aug. 27 33-strike calls, paying up to $.69.

 

 

Trade Review: Two out of Three Ain’t Bad

 

      • I closed my Wells Fargo (Ticker: WFC) Aug. 20 49.50-strike puts for 123% profit.
      • My Bank of America (Ticker: BAC)  Aug. 20 41-strike puts, I closed up 50%.
      • My Twitter (Ticker: TWTR) calls — not so much. I let them get away from me for a loss. Remember: ALWAYS STICK TO YOUR TRADING PLAN!

 

Thanks for Reading … See You Next Tuesday!

Licia Leslie

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