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Started By
Message
Stocks: Anybody own Alcoa?
Posted on 3/27/13 at 8:17 am
Posted on 3/27/13 at 8:17 am
Forst of all, I'm still relatively new to stocks. I bought AA when it was at $11.62 last September. It spent 2009-2011 rolling between $9 and $15, and since I bought it, it's been under $10.
I'm tired of sitting there with it. I'd love to get what I paid but getting bored. At what point does one cut their losses on a stock and move on?
Thanks in advance.
I'm tired of sitting there with it. I'd love to get what I paid but getting bored. At what point does one cut their losses on a stock and move on?
Thanks in advance.
4
Posted on 3/27/13 at 8:18 am to Giantkiller
Oh, my b - there's an AA thread already on the page.
ADMIN please delete.
ADMIN please delete.
Posted on 3/27/13 at 8:25 am to Giantkiller
quote:
I bought AA when it was at $11.62 last September.
Then you got royally screwed. The highest price AA traded at last September was $9.93 according the historical price chart on Yahoo Finance.
LINK
The reason I looked it up was I sold AA last September and I got around $9.40/share for it and after reading your post I was kicking myself.
Back to your original question: I sold it because the short and somewhat long-term prospect for AA looks not so good in my opinion. AA depends almost exclusively on the price of aluminum and aluminum prices are 35-40% below their five year highs while other industrial metals are 10-15% below their fiver year highs.
AA won't recover until the aluminum glut passes.
Posted on 3/27/13 at 8:27 am to Giantkiller
quote:
I bought AA when it was at $11.62 last September.
I'd punch your broker in the cock if I were you
Posted on 3/27/13 at 9:40 pm to Giantkiller
Word is that China is causing an oversupply.
LINK /
Don't ask me, but you can get a 3 topping pizza at Domino's for $7.99. That's a pretty close trade for one share of AA stock.
LINK /
Don't ask me, but you can get a 3 topping pizza at Domino's for $7.99. That's a pretty close trade for one share of AA stock.
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