Market down 400......

[agmoose]

Gold up'$20 and oil under $30 pretty quickly this morning.

Volatility.....may not be a strong enough description of what is happening and going to happen.

[silverflake]

So some one please help me out. Need an analysis of fundamentals here.

I am looking at the rout of the miners over the last year, (2 years, 3 years....heck, 5 years). I always have FCX on my radar. It has dropped all the way to $4/share. Largest copper producer in the world, owner of the largest copper mine in the world in Indonesia. On my TD/Ameritrade account valuation tab of this stock, it now says it's price-to-book value is 0.45. Help me guys, doesn't that mean it's currently selling for roughly HALF of what it is worth if it were just to sell off all of its assets???? If so, isn't it a screaming buy? Well I bought some. Even if it goes to zero, not a whole lot of risk (as long as you don't bet the farm on it).

Thoughts? Please.....

Appreciated.

Continue to stack physical.

[68Camaro]

Haven't done research on FCX but that valuation might be correct (or low) - in which case you might make out - that's one way to make money in a market, if you believe their assets are fairly valued (now, and in the future). The concern might be that some think their value is too high based on future. Could you really dismantle the company at that price, or would a gutted market mean that the assets are actually still overvalued? Dunno.

But, regarding the OP, Dow now down >500. We'll see if momentum changes to where the PPT thinks they can steer the market at the close of the day. If the market momentum / volume is still heavily down they won't be able to change it. If the volume lightens they will try to turn it.

It's still a small correction - similar to where we were last summer. Some - even in the MSM - are turning negative and saying this is just the start rather than the end. If so, over the next few months we'll see it go down thousands rather than hundreds.