Out Fox The $treet

Looks like Copper is going to break above the 52 week high of $3.6 and likely head back to the $4 range last seen before the financial crisis. Stone Fox has been pushing copper and such stocks as FCX, LIWA, and SLT. The interesting point about copper is that China now controls nearly 40% of demand and the US is around 20%. Assuming demand in the US rebounds it'll be the first time that the 2 biggest users are strong at the same time possibly putting a squeeze on the supply. See previous articles on the issues with supply. Below is a video last night from Mad Money with Tom Collins of TangleTrade Advisors discussing the bullish technicals of copper. Very much backed up by the trade today. Disclosure: Long FCX, LIWA, SLT

Freeport-McMoRan (FCX) is a big miner of copper and gold and a favorite of Stone Fox Capital. They are possibly one of the best run mining companies in the world. With China being the largest user of copper, it stands to reason that copper will benefit from their rapidly expanding economy. Not to mention that FCX has a large gold operation and $1,000+ gold prices is a big help. Today FCX reported earnings that easily topped analyst estimates and even soared 77% above last years results. Even more impressive is that they achieved the earnings gain with lower revenue. Its also amazing how the CEO talked so much about the weakness in the marketplace and yet they made huge profits. Imagine what it'll be like when the US economy is good enough to start building houses. Some snippets from an AP report : Freeport-McMoRan cut production and delivery costs by 40 percent over the past three months, generating gains that more than offset a quarterly decline in revenue. Sales fell 10 percent t...