Freeport-McMoran should fall on revised guidanceFreeport McMoran revised its guidance today. The news wasn't all bad, with better productivity than expected, but a lot of it was pretty bleak. The company expects lower copper revenues and higher costs to the tune of hundreds of millions of dollars. The stock broke its upward trendline today, then corrected above the line. It should fall again tomorrow and enter a mid-term downtrend.
I don't play short, but hopefully the short sellers among you will find this useful. Please do your own due diligence; this is just an idea as to how the market will move.
