Century Aluminum Co. (CENX)

[tradersplaybook]

Here's our game plan for CENX for Tuesday, October 25, 2011:

[alumin]

there you go

[Pro-Life]

Since the gap down in May, the price has really tumbled...

[Pro-Life]

The aluminum page @infomine.com:

http://www.infomine.com/commodities/aluminum.asp

[Pro-Life]

About Glencore Int'l... the parent company:

http://www.glencore.com/company-overview.html

[Pro-Life]

An interesting company history:

http://www.centuryaluminum.com/history.html

[Pro-Life]

Consumer Electronics Use Of Aluminum Growing Strongly - Alcoa

24 June 2011, 9:38 a.m.
By Debbie Carlson
Of Kitco News
http://www.kitco.com/

http://www.kitco.com/reports/KitcoNews20110624DeC_Alcoa.html

(Kitco News) - Aluminum use in consumer electronics has increased significantly as that industry seeks the metal for its aesthetic quality, for its ability to absorb heat and for its light weight, said an official with Alcoa.

Greg Wittbecker, vice president materials management for Alcoa, said the consumer electronics use is “very exciting” and that there has been an “explosion” in the applications of aluminum in the products.

Wittbecker said aluminum use in consumer electronics started with some of the innovative designs that came out of companies like Apple, which embraced aluminum for its “modern and clean-looking” aesthetics. But beyond the style factor, aluminum’s light weight and ability to be a heat sink makes it a natural fit for use in hand-held devices like netbooks, tablets and cell phones.

He said one area where aluminum will likely be seen is in the use of LED and high-definition television sets. As these TVs get bigger screens, weight becomes an issue, especially as consumers try to mount them on walls. Alcoa, he said, is working with manufacturers to replace the steel back plates to lessen the load and also to deal with the thermal management.

Wittbecker spoke to Kitco News on the sidelines of the Harbor Aluminum outlook conference in Chicago this week.

The rebound in vehicle production is going to be one of the main drivers of aluminum demand wit auto production, heavy trucks and aviation all seeing a resurgence as the economy improves, he said, echoing what several presenters at the Harbor conference mentioned. These areas have been tradition sources of demand for aluminum.

RECYCLING, OTHER GROWING REGIONS

As industries like the automotive sector rebound, the demand for primary and secondary aluminum metal also has risen. Wittbecker said supplies of scrap are inching upward as recycling has risen in the U.S. to 58% in 2010, a one percentage-point rise year-over-year.

China is a top area for growth in aluminum output and use, but another region that is seeing growth in aluminum production is the Middle East, he said. Several new projects have started in the region, including projects in Abu Dhabi, Oman and Qatar. These projects will add to new aluminum supply at a time when demand for the metal is growing.

India has great ambitions to become an aluminum supplier, he said. There are some questions whether India can emulate China’s growth, he said. Right now India’s primary aluminum demand is 1.8 million metric tons versus China’s 19 million tons, he said.

However, that is growing on a compounded annual rate of 9%, which is attracting attention of the aluminum industry. By comparison, North America’s annual usage is between 5.5 million and 5.8 million tons.

“India has tremendous potential,” Wittbecker said. “But India has big issues in whether or not it can realize all of the potential of its resources. India has world-class bauxite reserves and significant reserves of thermal coal.”

India’s main aluminum producers have ambitious plans to bring 10 million tons of alumina capacity online by 2016 and have announced they will build 6 million tons of smelting capacity by 2016.

Primary aluminum production is notoriously energy-intense. Even though India has great coal reserves, it has trouble accessing it because much of it is located in population centers. Thus, it is importing coal to fuel the some of the refiners and will use these imports to fuel the new refiners and smelters it hopes to build. If imported coal prices rise, that will significantly increase the price of aluminum.

There might be some alternatives to coal, but they are not likely to completely replace coal use in India. Wittbecker said India is in talks to develop more solar energy and is also looking at more hydropower and nuclear power, but by and large India is still dependent on coal and will be for the foreseeable future.

“The issue with renewable is how do they provide the base load security. You still need to have a backup because the sun isn’t always shining,” he said.

By Debbie Carlson of Kitco News [e-mail]

[MWM]

Commodities trader Glencore plans $11 bln IPO

[goforthebet]

Hope it will hit your target!!! have a great week :)

[decouverte d Elbe]

Aluminum is hot right now..when this hits $11 this week, I'll be sitting nice and green!

[decouverte d Elbe]

Aluminum is a great play now..ride this up to around $12.50- $13.00 now..

[decouverte d Elbe]

great flippin' here!

[foreontee]

Look out now, buying op approaching.. MM's played their game long enough here shaking out week positions .

[decouverte d Elbe]

there it goes!

[Zorro]

Don't know about this week but it sure looks like it's going to make a run at $12 and I think it will break it this time. Anything under $10 I think is a buy.

[decouverte d Elbe]

$11 bucks this week? I'm loading up more anything under $9

[Zorro]

Interesting. Seems Glencary is converting and buying shares in the open market at the same time.

[Zorro]

A ten bagger in less than 7 months. Great margin play.

[53chevy]

CENX going nutso after-hours, up more than 8% above close........

[53chevy]

US Small-Cap Stocks Rise As Investors Take On More Risk
Tuesday 10/06/2009 4:33 PM ET - Dow Jones News

Century Aluminum climbed 34 cents, or 3.8%, to 9.28, after Credit Suisse boosted its price target on the stock to $10 from $8, saying improving market conditions remove concerns about Century's liquidity.

[goforthebet]

Aluminum Heads for Longest Gain in at Least 22 Years on Demand

By Anna Stablum

July 28 (Bloomberg) -- Aluminum rose for an 11th day, the longest advance in at least 22 years, on signs demand from manufacturers is recovering. Copper gained in London and New York to near the highest in nine months.

Aluminum has jumped 18 percent since July 13 on speculation automobile manufacturers will need more of the metal. Japan’s shipments of aluminum rolled products fell at the slowest pace in seven months in June as demand from can and automakers rose, the Japan Aluminium Association said in a statement today.

“Consumers have been buying aluminum,” said Alex Heath, head of industrial metals trading at RBC Capital Markets in London. Buyers include can and car producers, he said.

London Metal Exchange aluminum for delivery in three months rose $17, or 0.9 percent, to $1,843 a metric ton by 1:26 p.m. local time. Prices have climbed for the longest run since at least 1987, according to Bloomberg data.

Copper rose 0.3 percent to $5,615.50 a ton, after reaching $5,645, near a more than nine-month high of $5,646 yesterday. Futures for September delivery rose 0.5 percent to $2.5575 a pound on the New York Mercantile Exchange’s Comex division. Nickel climbed $75, or 0.4 percent, to $17,025 a ton after earlier today gaining to $17,200, the highest since Sept. 26.

Copper and nickel producers are holding back some sales in anticipation they can get a higher price for the metals, Heath said. “They all think it is going to go higher,” he said.

The Dollar Index fell for a third day to the lowest since December, making metals denominated in the dollar cheaper for holders of other currencies.

Global Recovery

“A lot of the move in the base metal complex has been exacerbated by the strength and positive indicators of a global recovery,” RBC’s Heath said. “The dollar is undoubtedly driving this rally.”

The LME Index, a gauge of the six industrial metals traded on the bourse, has surged 55 percent this year on speculation the worst of the global recession has passed. World industrial production is set to expand at an annual rate of 7 percent in the second half, Michael Jansen, an analyst at JPMorgan Securities Ltd. in London, wrote in a report e-mailed yesterday.

“Underpinning base metal demand in the second half will be the onset of restocking across the industry pipeline,” he said. Fabricators had “run down their working inventory levels aggressively over the past 12 months,” he said.

Favored Metal

Copper is forecast to average $5,450 a ton in the second half, Jansen said. “Copper remains our favored base metals exposure over the longer term,” with supply falling short of demand in 2011 and after, he said. The average was $4,707.80 a ton for the three-month contract in the second quarter.

Stockpiles of aluminum fell 4,225 tons, LME data today showed. Near-record inventories of about 4.6 million tons are being overshadowed by speculation some aluminum supplies are not immediately available to the market and instead tied to financing transactions, Heath said. Barclays Capital estimates that almost 2 million tons are tied up.

Aluminum inventories have climbed 3.5 percent this month after rising throughout the past year and gaining as much as 29 percent in December.

Among other LME metals for three-month delivery, zinc rose 0.9 percent to $1,725 a ton, and lead was unchanged at $1,797.75 a ton. LME stockpiles of zinc rose to the highest since February 2006, up 2.2 percent to 368,475 tons, and lead inventories leapt 3 percent to 98,550 tons, the highest in more than a year.

Tin eased 0.3 percent to $14,550 a ton.

To contact the reporter on this story: Anna Stablum in London at [e-mail].

Last Updated: July 28, 2009 08:52 EDT

[goforthebet]

Alcoa Says Aluminum Use Recovering in China, Autos

By Yuriy Humber and Ellen Pinchuk

July 7 (Bloomberg) -- Alcoa Inc. Chief Executive Officer Klaus Kleinfeld said he’s “very optimistic” about sales as the Chinese economy and U.S. automotive industry start to recover.

“China is clearly out of the woods,” Kleinfeld said in a Bloomberg Television interview in Moscow today. “Its economy has come back and is growing again.” China reverted to being a net importer of aluminum this year, buying 700,000 metric tons of the metal in the first six months, he said.

Aluminum has gained 5 percent in London trading this year, lagging behind other industrial metals such as copper and nickel as inventories soared and production exceeded consumption. Demand is strengthening in the U.S. and Europe, Kleinfeld said.

“The engine is starting to get going again, which means you’re going to need a replenishment of end-user demand as well as distributors no longer thinking that they need to have zero on their hands,” James O’Mealia, chief investment officer of Sunnymeath Asset Management, said in a telephone interview.

Alcoa rose 15 cents, or 1.6 percent, to $9.41 at 4:15 p.m. in New York Stock Exchange composite trading. The shares have fallen 16 percent this year.

“Things are bottoming out, and they are even coming back in some sectors,” Kleinfeld said. “I’d mention the automotive sector” as one area of improvement, he said.

To contact the reporters on this story: Yuriy Humber in Moscow at [e-mail]; Ellen Pinchuk in Moscow at [e-mail].

Last Updated: July 7, 2009 16:35 EDT

[goforthebet]

How Beijing kicked an own goal on aluminium

John Garnaut

July 5, 2009 - 10:00PM

AdvertisementIf "China Inc" were a person it would probably be Xiao Yaqing, the former president of Chinalco who is also an alternate member of the Communist Party's Central Committee.

Xiao twice mustered the resources of the Chinese state to buy into Rio Tinto and disrupt BHP Billiton's empire-building ambitions. For his efforts he was rewarded with a plum job as deputy secretary-general to the State Council.

But China Inc is less coherent, less sinister and far less effective than often imagined. Here is the background story of how Xiao kicked a home goal by persuading his superiors to accumulate "strategic" metals reserves.

In November, after commodities prices had collapsed, Xiao requested and received an urgent meeting with the Premier, Wen Jiabao, sources close to Chinalco say. Xiao told Wen that the whole aluminium industry was in crisis. Chinalco and every other big aluminum company was losing money, and hundreds of thousands of jobs would be lost if the state did not step in and soak up excess production.

Wen briefed the State Council, China's cabinet, and spoke in favour of a rescue plan. The State Council instructed the State Reserve Bureau to buy aluminium and other metals including copper, zinc, nickel, tin and titanium as part of a diversified metals industry rescue plan.

Steel was initially included in the list but later removed, as the metal takes up a lot of storage space and tends to rust.

Officials at the State Reserve Bureau and the institution in which it is housed, the National Development and Reform Commission, thought the Xiao Yaqing-Wen Jiabao policy was a mistake from the start. Nevertheless, the bureau duly bought 300,000 tonnes of aluminium in late December and another 290,000 tonnes in February.

Chalco, Chinalco's listed subsidiary, was the most obvious beneficiary. It accounts for a quarter of Chinese production but received nearly half of the stockpile orders.

Provincial governments followed the Reserve Bureau's lead, JP Morgan estimating they bought 880,000 tonnes of aluminium for stockpiling in the early months of this year. The corporate sector also became involved, competing to accumulate inventories as prices rose.

Together, they brought forward a large proportion of the country's expected total production this year, which is predicted to be about 12.5 million tonnes.

Xiong Weiping, who replaced Xiao as president of Chinalco and Chalco in February, has publicly lamented that the period of loss-making prices did not last long enough to push high-cost producers out of business.

A metals expert, Michael Komesaroff, said China had 6 million tonnes of installed but idled capacity ready to fire up if and when prices revived. The Chinese aluminium market remains hugely overcrowded, and prices will in effect be capped for years to come, to the long-term detriment of Chinalco.

In addition to postponing a much-needed shake-out of the industry, the problem with the policy was that there was no guarantee companies like Chalco that were contracted to supply the State Reserve Bureau did so from their own factories. Instead they bought from cheaper suppliers overseas and clipped the ticket on the way through.

The bureau's buying helped push the Shanghai aluminium price higher than the London price, inviting a flood of imports into China.

Komesaroff said: "For a few short months this year China flipped from being the world's biggest aluminium exporter to the biggest importer, which held a floor under prices when they might otherwise have collapsed."

Some of the benefit went to China's aluminium producers. Chinalco and Chalco posted smaller losses than they would have otherwise. But it was a particularly expensive way to achieve that goal.

Mostly, it amounted to an effective transfer of wealth from Beijing to international producers of bauxite, alumina and aluminium, of which Rio Tinto is the world's largest.

Ten days ago an enterprising journalist from the magazine Caijing gatecrashed a meeting between the National Development and Reform Commission and various bankers.

The official hosting the meeting was Yu Dongming, director of the commission's Office of Metallurgy and Construction Materials, who works closely with the State Reserve Bureau and Chinese metals producers.

Yu candidly told the gathering: "The starting point for this policy was to ease the cash flow problem for manufacturers but, unexpectedly, agents became the biggest beneficiaries and manufacturers did not directly benefit … Under such circumstances I don't think the state government will continue stockpiling."

Note that the strategic rationale was to prop up producers, not to diversify foreign exchange reserves or make money by buying low and selling high.

Yu's statement was taken to signal the end of China's official stockpiling of high-value metals like aluminium, copper and zinc. My own guess is that it also coincides with the peak in Chinese import demand for bulk commodities like iron ore and coal. This means Australian mining exports to China are likely to dip over the second half of this year, although there are early signs that Japan and South Korea will recover just in time to take up the slack.

For Australia the great benefit of China's official buying was that it took place exactly when Australian mining companies needed it most. Xiao Yaqing played no small part in sparking the resources revival that emboldened Rio Tinto to walk away from the $US19.5 billion investment lifeline that he had worked so hard to put in place.

This story was found at: http://business.watoday.com.au/business/how-beijing-kicked-an-own-goal-on-aluminium-20090705-d96e.html

[53chevy]

This might be why.........I suspect we may soon see a reverse before another recovery move north........

Chinese buying spree is targeting metals, oil

http://www3.signonsandiego.com/stories/2009/jun/11/1b11china212011-chinese-buying-spree-targeting-met/?uniontrib

By Keith Bradsher


NEW YORK TIMES NEWS SERVICE
2:00 a.m. June 11, 2009
HONG KONG – Strong buying by China has helped lift commodity prices around the world this spring, but growing evidence suggests that a sizable portion of this buying has been to build stockpiles in China, and may not be sustainable.
At least 90 large freighters full of iron ore are idling off Chinese ports, where they face waits of up to two weeks to unload because port storage operations are overflowing, chief executives of shipping companies said in interviews this week. Yet actual steel production from that iron ore is recovering much more slowly in China, and Chinese steel exports remain weak.
Commodities and shipping executives describe Chinese stockpiling in recent months of other commodities as well, including aluminum, copper, nickel, tin, zinc, canola and soybeans. In April, China began stockpiling significant quantities of crude oil.
China's goals vary by commodity. Chinese companies have bought iron ore heavily on the spot market in anticipation of higher prices in annual contract talks now nearing completion. The Chinese government has been stockpiling oil and some metals for strategic reasons, and bought huge quantities of aluminum and canola to insulate domestic producers of these goods from falling global prices over the winter.
“There has been enormous stockpiling of all commodities” by China, and this cannot continue indefinitely, said Tim Huxley, the chief executive of Wah Kwong Maritime Transport Holdings, a big shipping line based in Hong Kong.
Those extra purchases beyond China's daily needs have helped reverse the price collapse in commodities that followed the economic downturn last fall. Spot oil prices, in particular, have doubled since late December. That is driving up the price of gasoline and diesel in many countries, including the United States.
Moody's Investors Service announced yesterday that it was putting a negative outlook on the base metals, mining and steel industries in Asia and the Pacific, having previously done so for these sectors elsewhere.
“China's strategic stockpiling and replacement of lower-quality domestic production with higher-quality imports have supported the recent rally in prices for many base metals, but we will not see a sustainable turnaround in demand until the major economies of the U.S., Europe, and Japan recover,” said Terry Fanous, a senior vice president in Sydney for Moody's, adding that the leading economies were not likely to recover until next year.
The Standard & Poor's GSCI, an index of global commodity prices, has risen 41 percent from its low on Feb. 18, but is still less than half its record, set on July 3 last year.
One of the best leading indicators of international trade in commodities is the Baltic Exchange Dry Index, which measures the daily cost of chartering a large freighter. While the Standard & Poor's GSCI has continued to rise in the last week, the freight index has fallen by a fifth in that period.
Richard Elman, the chief executive of the Noble Group, Asia's largest diversified commodities trading company, bounced up from the conference table in his office here when asked about freight rates during an interview on Tuesday morning. He walked over to his desk, dominated by three computer screens that partly obscure a perfect view of Hong Kong's harbor, and quickly punched up on one screen a list of daily charter rates for large bulk carrier freighters.
The list showed ship owners charging $58,000 a day now but just $24,000 a day for charters next year or in 2011 – an indication that there will be more ships than cargoes in the years ahead, particularly with shipyards still finishing vessels ordered during the recent boom.
Pointing to the rates for the next two years, Elman said, “That's the real market” for ships.
From an immense new sugar mill in Brazil to an extensive coking coal operation in Australia, Noble is active in commodities around the globe, and its stock has nearly quadrupled since its low on Oct. 24. Elman voiced optimism about the future of the Chinese economy and of worldwide demand for commodities, but cautioned that for some commodities, “the futures prices have gone ahead” of the prices for physical delivery.
According to JPMorgan, China's iron ore imports were 33 percent higher in April than a year earlier. Crude oil imports were up nearly 14 percent, aluminum oxide imports climbed 16 percent and refined copper imports jumped 148 percent.
Imports of coal soared 168 percent as Chinese utilities bought more foreign coal while trying to negotiate better prices with domestic producers.
Determining the percentage of each commodity that is being stockpiled is difficult, especially in China, where scant data are released. Assessing steel demand, in particular, has become a subject of almost obsessive interest among many shipping executives and economists as a barometer of emerging markets'health and as an indicator of demand for items ranging from iron ore to ships to cars.
Steel demand in China is already recovering for types of steel used in construction, Elman said. Local, provincial and national government agencies are ramping up investments quickly as part of economic stimulus programs.
But demand has been slower to rebound for higher grades of steel used in consumer products, despite $1 billion in Chinese government incentives for the purchase of cars and household appliances, particularly by residents of rural areas.
Some economists say they are bullish on commodities because they believe that the United States and European economies are on their way to recovery.
“The commodity price rally is for real,” said Ajay Kapur, the chief global strategist at Mirae Asset, a big Korean financial firm. “I'm not expecting any huge correction from here.”
Other executives, particularly in shipping, are less optimistic and see signs of a bubble in freight rates, and possibly commodities, that may repeat the sudden rise and fall of prices last year.
“The past two weeks have been nuts and, rather than cheering this sudden comeback of the dry bulk market, I do have a considerable amount of concern that we are seeing the same bubble again,” Kenneth Koo, the chairman and chief executive of the Tai Chong Cheang Steamship Co., another big Hong Kong shipping line, wrote in an e-mail message. “And like that past bubble, it's not going to sustain.”

[MWM]

Price of Aluminum finally coming back...

[was builder]

Century Aluminum (CENX, $6.96, +$0.72, +11.54%) shares rise amid an increase in aluminum prices. BMO called Century Aluminum a "high-beta aluminum play," noting aluminum prices have climbed about 10% in the past few days. LME 3-month aluminum was just off its 2009 high earlier today. Shares of other aluminum companies, including Alcoa Inc. (AA, $11.44, +$0.29, +2.60%) and Aluminum Corp. of China Ltd. (ACH, $27.17, +$1.60, +6.25%), were also up, though Century - considered to trade most closely with aluminum prices - was leading the pack.
(MORE TO FOLLOW) Dow Jones Newswires
06-10-09 1224ET
Copyright (c) 2009 Dow Jones & Company, Inc.


Not a bad day around here!

[breen12]

thats what im trying to find out

[shah88]

what tender offer?

[breen12]

is this going back to $10? Whats this about a tender offer?

[shah88]

up day tomoro?

[MWM]

All comodities ex gold and silver are up, just pick your poision...

[shah88]

any analyssi for today?

[MWM]

options expiration days are bad days for evaluation, lets see what next week brings...

[shah88]

then why is cenx down i cant understand. i think it is cause market is down, it follows the dow pretty closely. what do you think? will it hit 6 or even 7 again?

[MWM]

Analyst sees Alcoa earning a profit in 2010
Analyst says Alcoa could earn a profit in 2010, reversing 2 quarterly losses
On Friday May 15, 2009, 11:36 am EDT
Buzz up! Print Related:Alcoa, Inc.
HARTFORD, Conn. (AP) -- Shares of Alcoa Inc. jumped Friday as an analyst said the aluminum maker could earn a profit next year after posting two straight quarterly losses.

Related Quotes
Symbol Price Change
AA 9.05 +0.31


{"s" : "aa","k" : "c10,l10,p20,t10","o" : "","j" : ""} Analyst Sal Tharani of Goldman Sachs Global Investment Research rates the Pittsburgh company "Buy" and set a price target of $13.

"While we think aluminum has one of the weakest fundamentals across base metals, we also believe the worst is behind and forecast a slow, gradual improvement in prices," he said in a note to investors late Thursday.

Despite extreme excess capacity, aluminum is still the base metal most linked to economic growth, Tharani said. Goldman Sachs forecasts 3.2 percent growth in the world economy next year, which "bodes well for Alcoa as a world leader in the aluminum supply chain, he said.

Tharani said he believes Alcoa's earnings bottomed out in the first quarter and he expects the company to earn a profit in the first quarter of 2010.

Alcoa reported a first quarter loss of $497 million as the stumbling global economy continued to erode prices and demand. It posted a loss of $1.19 billion in the fourth quarter of 2008.

Tharani said risks include continued weakness in the global economy and production overcapacity in China.

Alcoa, which makes aluminum and uses it to manufacture products such as truck wheels and fighter jet parts, has announced cuts to reduce its output by 20 percent. It has announced plans to shed 13 percent of its global work force, sell four business units and substantially reduce production.

It also has cut its dividend for the first time in more than 20 years and announced plans to sell stock and debt.

Shares rose 55 cents, or 6.3 percent, to $9.29 in morning trading.

[MWM]

Glencore more form 4's last night, looks like they want the company... no surprise!

[Pro-Life]

This is the 3rd gap and run since mid March!!!

[ShootinBlanks]

I sold some last week but glad I held the rest. GLTA

[MWM]

CENX is hot again in PM almost $6 now...

[LATINO]

Posted by: LATINO Date: Monday, May 04, 2009 7:26:00 AM
In reply to: None Post # of 146520

Century Aluminum slash output, stock rallies 2009-05-03 18:40:00


CENX : Commodity Online
Century Aluminum Co. (NASDAQ:CENX) has exercised a 28% slash in output meanwhile it is also planning to curtail yet another production of around 200,000 tonnes on grounds of exceeding supply pushing prices below cash cost level of majority producers.

Explore Commodity Online Mobile Services

Century Aluminum Co. is engaged in producing aluminum. It got charged $24.3 million in the recent quarterly results on account of job and production cuts at Ravenswood and Hawesville facilities wherein the latter is now operating at an annual capacity of 200,000 tonnes/year.

CEO of Century Aluminum Co. Wayne Hale told Reuters that a 50,000- tonne reduction is yet in pipe-line to be initiated in near future.

CENX recently reported a loss of 52.35 in revenues year-over-year to $224.59 million. Analysts recommend to ‘Hold’ the stock and target an average price of 6.5.

Century Aluminum Co. share however gained 30.94% at NASDAQ on Friday and touched a 52-week high of 80.52 and low of 1.04. It was last traded at 5.29

[The_Free_Nebula]

CENX - Would be nice to see more run next week...The late March move died on the vine ubtil now...Would like to see a rest aound $7.5

[Rover_az]

OMG!

[LATINO]

Buy out rumor cooking. shorties are going to runn like crazy lol. the posibilities are very high to see at 10 dollar stock. enjoy the gains. nice break today .

[MWM]

This might be a breakout today...

[Rover_az]

KABOOM!!!!!!!!!!!!!!!!!!!!!

[ShootinBlanks]

Looking good here today!

[goforthebet]

Aluminum May Top 2009 High, StanChart Says: Technical Analysis

By Glenys Sim

April 28 (Bloomberg) -- Aluminum, the worst performer on the London Metal Exchange this year, may rally to more than its 2009 high as a “basing pattern” forms, Standard Chartered Bank said, citing trading patterns.

“Aluminum prices are expected to find buyers on the current pullback, with a bounce in a month to $1,555 expected, and some scope to turn higher and press $1,648 seen,” the bank’s London-based analyst David Barclay wrote in a research note yesterday.

In the short term, a “very choppy” inverse head and shoulders may be building, which would be confirmed by a turn through the April 14 high of $1,555, said Barclay. An inverse head and shoulders pattern consists of a trough, followed by a lower trough, then another trough. If the pattern is completed, the metal used in automobiles and airplanes may move higher.

Aluminum for delivery in three months on the LME lost 0.8 percent to close at $1,446 a metric ton yesterday. The contract has fallen 6.5 percent this year, making it the worst performing metal on the exchange.

The next target of $1,774.87, based on a 23.6 percent retracement measure, comes from the fall in prices to this year’s low of $1,279 in February from the July high of $3,380.15, Barclay said, referring to a percentage that’s part of the Fibonacci sequence.

Fibonacci analysis is based on the theory that prices rise or fall by certain percentages after reaching a high or low. A break of a level of support indicates a price may move to the next level. A failure indicates a trend may stall. Other key Fibonacci levels include 38.2 percent and 50 percent.

“The 38.2 percent retracement comes in at $2,081 and should serve as a medium term objective if this is a technical basing pattern,” he added. “Risk is placed at $1,279 which, if broken, would leave a swing to $1,000 possible.”

To contact the reporter on this story: Glenys Sim in Singapore at [e-mail]

Last Updated: April 27, 2009 22:30 EDT

[inflationista]

good looking out -

[inflationista]

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF6Ch_1DFX.s

[inflationista]

moo.