Discussion in 'Stock Market' started by wimpy77, Apr 7, 2009.
is this pullback expecting by you guys or do you think there's something more?
alcoa lost half a billion dollars......eanings reports sucked.... the feds want to throw 4 trillion more at the problem.......and you still can not get any kind of credit to build anything.....
when is the last time alcoa has actually met expectations been many quarters.
worse than projected....and that is the issue ......if people do bad but better than projections then it is a sign they have cut deep enough and have a handel on the market......most of my clients are "fortune 500" retailers they seem to have it under control ....almost.....my fortune 500 developers not so much....they can't get credit and don't see any on the horizon.....which means no manufacturing for construction materials.....so if this is going to turn it will be the retailers leading the charge......
Aluminum prices are low right now. Wait till the inflation comes and base metals skyrocket, Alcoa will be making a killing. Their stock is a value right now.
What I'm mainly seeing is a ton of resistance at 8000, and somewhat of a support around 7800. It looks to be much easier to go further down than further up right now. If we can break 8000 and close above it I think we can make some more significant gains. The next major resistance level after that would pretty much have to be somewhere around ~9000. I might go double short the DOW again around 87-8800 if we get up there and earnings aren't looking good.
The pullback can work, but it's only about 80% effective.
But through the use of both the condom AND the pullback, it's about 99% effective.
Just something to think about.
You beat me to it!
It's called pullout in that context, not pullback.
My guess is that a some sectors have bottomed out, the financial sector is a good example of this.
I don't think we re going back down (below the previous "bottom"), unless something horrible happens in the next couple of weeks. I ve got great respect for the Obama administration and the FED if this continues, they are the ones who made this possible.
Separate names with a comma.