profit taking is the answer lots of people bought this in the dollar to 2 dollar area,they at least in most cases doubled their money in a year,time to take some off the table,if im right i think we have have a test of 3 comimg sometime before earnings,the one thing im sure of is barring an announcement this wont see 4 til we get to the holidays
there likely were a lot of shares that had been owned over a year or 2 with insane gaines,while this delines is viscious 50 percent retracements are not uncommon after this type of runup,if you go back about 2 years you see a rise from the 1-1.25 are run that up to 4.70 and look we we are today its nearly a 50 percent retracement ugly but in lite of the up move not out of line,im only nervous on this because its been done while the overall mkt rallied,lord knows what a correction does
I said 3 days ago this would test 3.50 yea me,lol the bounce is a good thing real good ,what i dont know as i have said all week is that when the broad market corrects how bad is it for alu
id agree but we still havent had a mkt correction,and the liklihood is that it will occur during the summer /early fall rendering any good news unimportant at the moment.we passed todays first test of 3.50,if traders decide to sqaure positions this weekend i doubt we hold if we are trading at 3.52.,a really good buy opp is going to be had later on this summer
assuming a correction with the stock trading pre mkt at 3.52 i dont see 4 til after the holidays,it tells me that we may threaten 3,remember this is collapsing in stealth rally/and yes a stock yjat in a few mos goes from 4.70 to 3.50 has collapsed its a bear mkt for this.the case for us longs is really eroding,in fact i think since the first of june one up day
its gone down everyday now for about a week,that only happens if folks know something.the question to ask is when the stockmarket corrects,where does alu goes,that answer should tellyou what to do,im very nervous about the next 3 mos,earnings,no earnings
i believe,but you are early this has no reason not to keep on selling til earnings,the momo is now totally in the bear camp,there is no reason to buy yet,there will be later on likely mid fall after we get the mkt correction,as we speak its trying to close on its low for the day.
i think we meander in here til earnings and div distributions are behind us.ill be stunned if this is not at 10 come holiday time
nokia is not buying alu,i just got my 51 cent a share div,a share buyback was announced and they have done a few deals in the last 6 mos,they dont have the ability to do a deal on alu.,move on
i think this goes a lower now without a meaningful uptick in days ,reality is people are getting out.
Open apology to steve i absolutely mis read,i thought i saw does not sell water,sorry steve,sorry,noter the caps here.lol