I have been getting increasingly anxious on short-term commodity prices - specially Copper. And was contemplating exiting my position in Phelps Dodge (PD) soon. Sometimes you pick stocks for the wrong reason - but you still pick it right. I had originally recommended the stock back on Oct 11th, on strong earnings growth and future appreciation potential and today the folks Freeport McMoRan (FCX) agreed on Phelps' prospects, paying a 27% premium to shareholders of PD. If you bought it when I recommended it, you are sitting on a 33% gain. Its time to sell Phelps and put your money elsewhere.
-- Faisal Laljee