It seems AA and others in the alum space such as Century have fallen back over the past month and are now treading water. I wonder what has changed in the analysts/traders' view to cause this pullback. Maybe the alum stocks had gotten a bit ahead of themselves. But, other commodities have pulled back a little and have once again moved up a bit. Is there concern about the Chinese? Do they have too much excess capacity? Is there concern that the demand for alum in China and elsewhere just isn't kicking in like they thought just a few weeks ago. I thought the AA CEO gave a decent outlook. Any thoughts on why we are where we are today and what might the next 2-3 month outlook like would be appreciated. Not looking for conspiracy theories or that everything is due to manipulation. Hear that stuff too often.
Nothing bad. In fact India is going sign a deal with Alcoa to build more Jet for there needs just like what China did first week of this month.
It is just the big guys want to enter into the stock at a lower price and force the week sellers to sell it.
I am not sure if you watched Alcoa new fast money two guys they were long on Alcoa and before the earnings they sold it. The next day they say short Alcoa. Even CNBC and ther traders or not good. They care about there pocket.
As per the chart we are going to $32 a share soon may be early 2010.
Nothing based on fundamentals; I believe it was primarily based on technical-chart based trading along with manipulation by short-traders who perhaps wanted to create buying opportunity for certain favored buyers. Come Monday next, the price will begin its upward move, unless the market tanks.