Continue to expect volatility and potentially weaker copper prices near term, BUT with China and India reporting that they expect strong growth in 2010 investors should use the neartem weakness to buy. FCX look attractive above $45, if you enter here keep your STOP tight @ $4, price objective $51 for '09 $60 for '10. Citigroup raised its rating on Freeport to "buy", from "hold" Wednesday, while also increasing its price target on the company's shares to $58 from $53. Freeport (FCX) reports quarterly earnings on July 21st.
*click on chart to enlarge image
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