GREY:MLKKF - Post by User
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24~Karaton Aug 06, 2008 5:20pm
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Post# 15363418
RE: Market Pyschology
RE: Market PyschologyOf course, sometimes the market for these two securities are not entirely analogous.
For instance, since the time of my purchase in 2004, ML has appreciated by 1,940%, whereas, over that same time, FCX has appreciated by a mere 174%.
ML’s past is foreshadowing its future. While it is reasonable to anticipate that ML can triple from here (an opinion that is held by one of the industry’s top analysts) nobody realistically expects FCX to triple from here. (Good heavens, if it couldn’t do that from 2004 to date, why in the world would anyone expect that now?) But there are some analysts who see it reaching the 130 area from here, which would represent nearly a 50% gain. FCX’s major coup in life was its ability to literally steal Phelps Dodge, and they won’t be doing that again any time soon.
BTW, congratulations on the 9% gain today in QUA. I also hold a position there, but it is not a major position of mine.