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Sabrient Select Opportunity Virtual Portfolio

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Sabrient Select Opportunity Virtual Portfolio

August 12, 2010 – Buy FCX 

I put on a new short earlier today, and by the time the email went out the stock had already started to drop, so you should try to get your best price on it sometime today. 

Gold miners seem to be holding up well lately, so I’m going to take advantage of this pullback to add a long position to the virtual portfolio.

Freeport McMoRan (FCX) through its wholly owned subsidiary Phelps Dodge Corporation is a copper, gold and molybdenum mining company. It carries a BUY rating in the Sabrient Ratings Algorithm, a Company Outlook Score of 75, a Value Score of 80. I am adding it as a Long position to the Select Opportunity Virtual Portfolio at a price of $70.20 that I see right now.

I’ll place a mental stop at a closing price below the July 21 close of $66.06, which was the start of its recent run up.

Best Regards,

Scott Martindale 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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