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Replies to post #1704 on ALCOA Inc. (AA)

Replies to #1704 on ALCOA Inc. (AA)
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chef911

08/20/15 9:13 AM

#1705 RE: ogbull #1704

thank you for posting
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ogbull

08/20/15 9:16 AM

#1706 RE: ogbull #1704

I now think what hurt us yesterday was the 10% drop posted by Glencore Plc (GLEN.L), the huge mining and metals conglomerate on the London exchange. The fall in profits spooked the whole world. I now think the heavy selling of AA and then the slowdown in the selling and then the heavy selling again will coordinate with the yesterday's trading on the London Exchange. In other words, when GLEN.L stock price bounced up, the selling of AA slacked off and then when GLEN.L started dropping like a strong, the selling of AA went crazy. GLEN.L is up 5.8% today and so are all the metals. I think a lot of buyers are using the trading price of GLEN.L as a buy/sell signal for metal mining companies.