Every day the buyers dry up and the sellers and shorts take over and drive the price down. I can't imagine at what price these sellers bought that they are making money down here. This will be the scenario until the buyers finally overwhelm the shorts and sellers to reverse the trend. When that happens the shorts will be running for cover. Not until there is substantial good news or aluminum price reversal unfortunately.
The capacity curtailment by AA will be significantly covered by the Maa'den facility. It is the most modern and cost efficient in the world. Bar none. They will not divest from aluminum because this downturn will not last. AA knows more about aluminum than any company in the world. Bar none!
Cramer's lightning round just now. He said when the deal closes AA will go higher. Then you buy. Thursday's the day. This from the great prognosticator.
I believe what you say. As I stated I'm not a trader so I have to rely on what I know from working for AA. What I know is they have myriad innovative products and processes that will propel them when all come to fruition. I invested for these reasons. gLTY.
I don't trade stocks. I worked for AA for 28 years and know a little bit about the company. I bought back in at @10.60 because I intend to hold for the long haul. I worked at the Tech Center in Pa and am totally familiar with the micromill and most of the other innovations Alcoa has R&Dd. GLTY.
Short interest won't let this get away from them. The majority of investors have no conception of what Alcoa is doing and most of the analysts are clueless.
For some reason the interest fizzled today. Unfortunately the short interest will take over now that the rally has lost steam. It may take the finalizing of the RTI deal to get going significantly higher.
I retired last year at this time and although I keep in touch with some of the people as you know in the corporate world things change in a short period. The pilot plant was in SA and then a larger scale mill was built in Reno. Go figure. Never the less, they will perfect the process and it will revolutionize the making of auto sheeting.