March 9 - FCX

Last Friday FCX gapped above the $32.00 area, which is an area not visited since Nov 2008. Today FCX gapped down and although it was strong at the open, it could not take the PDH. FCX struggled with RZ throughout the morning and printed a nice NR bar (doji-like) below RZ. The next bar was a NRIB and the body of that bar was on the lower wick of the previous bar. Volume also decreased at these two candles so I thought this had potential for a nice move down. I took a partial at S1 and exit the rest at the end of the day. Very nice R return!