I haven't said much about the low-priced stocks, often referred to as "cats and dogs." These stocks have their own index, referred to as the Russell 2000 (no relation to me). These stocks often lead during a bear market bottom (because they are so cheap), and they often outpace other stocks amidst the excitement of a bull market's third and final phase. The chart below shows the Russell 2000. It has formed a head & shoulders bottom pattern and has now surged above both of its moving averages. RSI and MACD are bullish, but I don't see any expansion of volume on the latest advance.
Freeport is one of the world's largest producer of copper. It is also one of the largest producer of gold and molybdenum. It recently expanded into oil, much to the distaste of the market and its shareholders. On the news, the stock dropped in a huge gap, ... Log in or subscribe to continue reading.
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