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Started By
Message
re: Stocks: Anybody own Alcoa?
Posted on 3/27/13 at 8:25 am to Giantkiller
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.
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