I just cancel my sell order. I reread the latest world news today. Shippers are similar to Home builders early last year when they start going back up but they keep on going up much higher. I got a feeling, shippers are just in the very beginning of major recovery from low point. Europe could be finally at beginning of start of growth again. Japan is strong also. China coming back probably because the Middle Class has saved enough money to start domestic spending. USA economy is going to grow in 2014 higher than this year. So, I would not sell shippers while everything is in the right place. I also think the Syria situation has been overblown. Even if America attack Syria, it is more about missile strikes in key facilities. The only real concern about Syria is if the government is toppled, the extremist rebels will own the stock pile of those chemical weapons. Imagine what they will do with those weapons in US soil????? Obama better think many times before he strikes Syria. It might be better to have two Syria being separated as two nations. US congress better think hard about strikes also. Chemical weapons are bad but Obama should think hard on how to deal with this incident and maybe let the other nations take lead instead of getting so involved every time something happens around the world. America is Broke. Obama forgot about that.
I don't see any real major reason in the news.
Thanks for any input.
The pressure is building up for a fast explosion just by looking at the charts.
Also, people are kind of expecting such a move so sellers are unlikely to sell when
they sense BAC is finally headed to $19 to $20 level again.
This time the price going to stay instead of like last time went back down.
Now, the same thing happening again. China will continue to depress this type of mining for many many more years to go. That is the real reason I sold before. China is the problem. It is happening to my Alcoa stock also. Just take a look at AA trading at only $8.5 now. Lucky, AA have the high tech design for using Aluminum for new industries like airlines and cars.
You can see AA- Alcoa has been down for so long now.
At some point, aluminum miners might start cutting back to make
some decent profits.
Many fert stocks could go much lower if the price trend continues.
Just look at Rare metal miners and you can see what
is going on with any commodities.
That was why I sold unless some hedge funds used that news to take down the price so they can profit and took my money. Or is this a real threat in the future? Any ideas from technical people.
I lost money on this one but lucky I sold out just in time to lose less. China can mine these rare earth
at low prices for a long time to come. That is another problem.
I think AA could make some big moves up within this year continue next year. Maybe as high as $20 again.
I'm just using logic. Same for Bank of America when they were trading at low as $7 early last year when people were concern when it dropped from $17 back to $7.5 level. Imagine you got in at that low price of $7.5 and could sell today at $15.6.
Same for AA if you can buy at $8 bucks and sell at $20 next year or even $30 within 3 more years.