I agree 100% but I must tell you that AA in now selling at $10.61 in Pre-Market. Volume is sky high at 1 million shares with 1 1/2 hours of trading still to go. We might even hit 2 million in Pre-Market. Something special is certainly underway.
I don't think you gonna see anything any lower then $10.50 and then for only a brief second. We might even trade 50 million shares today and close back up the where we close yesterday or even higher. Looks like a lot of institutions were waiting to get the lousy earnings behind us and see what management had to say. Everything was positive click-here
They might have even been tipped off that a miss was coming. Maybe they just figure it out? I would have called the miss if I had factored in the 58 million shares used to buy the titanium factory.
DOW futures are up $45. Crude is running up like crazy. Aluminum is up $67.00 per ton (4.30%).
I think the market was very happy with getting the quarter over with and behind us.
Great things from the ceo last night, however, id have to agree that they'll pull it down a bit before taking off again as I said last week prior to earnings. Every report same story.