Seeking Alpha

gofx's  Instablog

Send Message
I trade stocks, options, and foreign exchange for fun and profit. I am not risk averse and often make short term trades.
  • AA Set For Upward Reversal? 0 comments
    Nov 14, 2013 9:05 AM | about stocks: AA

    AA has recently been suffering from apparent LME based concerns. However, as we all know AA has done a good job of developing downstream sources of revenue which appear to be in solid growth markets.

    Take a look at the following chart (click to enlarge):

    The recent double test of approximately $8.75 may indicate a short term floor. A turnaround may also be hinted at by the recent upward cross of the 50 day MA above the 200 day MA.

    Risks might involve a change in expectations for the auto or aerospace sectors. However, at this point, I think the risk of reasonable price drops based on LME actions should be baked in.

    This looks like a good point for a speculative play.

    Disclosure: I am short AA.

    Additional disclosure: I currently hold a put and a call option on AA. I may initiate a new short-term long call position within the next 24 hours.

    Themes: Spec, Technical Stocks: AA
Back To gofx's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • $AA looks like it's a good point for a short-term spec play.
    Nov 14, 2013
  • $SNE will be in the news from now until Xmas with updates on PS4 vs XBox1 sales numbers.
    Nov 14, 2013
  • $RVBD Interesting early move...
    Nov 8, 2013
More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.