Freeport-McMoran (NYSE:FCX) is bouncing today. The stock is down almost 37% in just the last few months as commodities have collapsed.
It's important to note is that Gold is flat but the (ARCA:gold miners) are bouncing. And that includes Freeport-McMoRan. The upside potential is large as the collapse has been epic. In addition, any actual gold bounce will add fuel to this fire.
Look for a bounce back to the 29.50 level.