Freeport McMoran (FCX) NewsBite - Higher Gold Boosts FCX

Posted on Wednesday, October 08, 2008 10:32 AM
Freeport McMoran (NYSE: FCX) opened at $37.67. So far today, the stock has hit a low of $37.00 and a high of $42.50. FCX is now trading at $41.18, up $2.48 (6.41%). Over the last 52 weeks the stock has ranged from a low of $37.34 to a high of $127.24. Shares of FCX are rising today, helped by higher gold futures. Technical indicators for the stock are bullish and S&P gives FCX a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on FCX the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: C, TIF, RTP, JCG, HLTH, PDLI, TIE, CAJ, EXM, ILMN, HOC (Click Symbol For Latest News)

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