OlegMDev

AA - Loved it at $8, sold it at $17, now am just watching.

NYSE:AA   ALCOA CORP
43 3 0
Been investing in AA from $10 to $8 then sold it at $12 and $17 just on speculation, good luck eh? I still like AA for its world economic value and would love it to go back in to that range, so I can pick up some shares. Anyone have any ideas how this market or stock might behave in the next 12mo.?
OlegMDev
2 years ago
Someone just yell out "China" ... lol, and maybe it will come in to my range. Does that work anymore? hehe. Anyone try that in the corporate boardroom lately?
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OlegMDev OlegMDev
2 years ago
Actually had a little help from Goldman Sachs, TY fellas. This was such an easy trade if you followed the news. During those days I noticed they wanted to store aluminum in warehouses, and naturally i thought this move was to raise prices. This was from some headline that ran across AA's news feed. It became easier to hold AA through 2014 as the stock price rose from $8 to $17. Now that the govn't is investigating 2015 sell off was not a surprise, and I too sold my shares thinking the punch bowl was being taken away. My speculation is that there will be some selling pressure for a few months until that is all cleared. I actually still love AA and know the world cant live without Aluminum. Ford proved this to us showing off new uses of Alum on their trucks in recent news. I wont be surprised if insiders start buying AA on this pullback, and some show that they did on 4/10/2015. This is definitely exciting, and proving my theory correct. I still want the stock to come in into my range, but will be watching it more closely in the next few days to go long again. If you want to do your own research on GS warehouse news, just google around. Some details can be found here. http://www.zerohedge.com/news/2013-08-04/goldman-sued-monopolizing-us-aluminum-warehousing-market and http://www.forbes.com/sites/robertlenzner/2013/07/25/goldman-sachs-makes-255-million-storing-3-of-global-aluminum-production/ Just a thought, no reason this can't be done again in the future with other players. Hmmm, if the warehouses are monitored now, where else can Aluminum be stored without the Feds interfering. lol
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OlegMDev
a year ago
Alcoa Inc. Challenges CFTC Authority to Regulate LME Aluminum Warehouse Reform
https://agmetalminer.com/2015/06/19/alcoa-inc-challenges-cftc-authority-to-regulate-lme-warehouse-changes/

re:
"CFTC could be said to have the exchange over a barrel in terms of forcing them to accept CFTC suggestions or guidelines regarding rule changes. According to the article, the CFTC offered the exchange its “opinion” of the reforms, including that the possibility of capping or banning rents and inducements saying such reforms “show promise.” Alcoa’s position is the CFTC has no authority to intervene in such a contentious issue and, as such, should refrain from getting involved, preferring an open dialogue with industry members (obviously meaning Alcoa among others) to arrive at solutions."

- AA, good job. Many will support you for having aluminum balls.
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