Thursday, July 15, 2010
Back in the investment world where the charts do not care about anything other than what is the probability going forward, we find Alcoa turning back down from the SMA 50 and still in the grips of its H&S topping pattern and $8 target. Jumping back into real world mode, I am a customer of this company and we use tons of aluminum, literally. Real world, the aluminum mills are buzzing along. So it's back to the old question, "real or Memorex?" for the intermediate term?