claydoctor
Short

AA going down

NYSE:AA   ALCOA CORPORATION
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See chart. RSI is preceeding price this time big time. Breached top of trading range. Breached trend line of strength. Heading for its 200 day MA, and then its bye bye aluminum. Why? Aluminum is in almost everything. Auto sales down (aluminum trick beds i.e. Ford) , auto loans in question, retail suffering, big plans are stalled, grid lock has locked up Washington's brakes. FED has gone public they are aware. And now we are going tell China to stick it, pay up, play fair, really, a little bit? Really? A reset is needed, and China is just the one to send a message that they hold the trump card in this game now. 70% of all clothing and shoes, and other stuff is all made in China. Companies have been profitable only because their cost of goods has been historically cheap. Retail will almost certainly just die, or become disabled. Amazon, costco, sams only games in town. Also for corps to be proftable, no growth in sales, but cut costs, more efficient (fire people, eliminate jobs, roles, install robots) parties over. How about a 10% drop , or more? AA is a very good barometer of our economy, which is about to tank. And AA to 22, it could happen. Might be just what is needed to release the grid lock, and put a little panic in their reelection campaigns. Maybe then they will go in a room and not come out until they have a deal done. Idiots! Do it now, and save us all some of this pain. Oh well.
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