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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.
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 10:22 am to Vols&Shaft83
quote:
I'd punch your broker in the cock if I were you
Well, in my defense, it's a little E-trade account I play around with. I only bought a handful of shares. I just wish I could get the little I paid back.
Posted on 3/27/13 at 11:15 am to Giantkiller
Well if you need the money soon, I'd say wait a few weeks, research another stock you wanna buy, and pull the trigger. personally I think you're being impatient and its GONNA COST YOU MONEY. If you sell now, you lose about 25% of your investment, you lose the trade fees for both buying and selling your shares, and you lose dividends. Taking that kind of loss after only 6 months would make me sick, but you're only gonna lose if you sell.
In the future, don't buy a stock that you can't hold for at least 5 years.
Unless you day trade that is
In the future, don't buy a stock that you can't hold for at least 5 years.
Unless you day trade that is
Posted on 3/27/13 at 7:22 pm to Vols&Shaft83
Wow. I bought in at 8.96 and I thought I got the shaft. I'm going to tryan and sell if it gets above 9.
Posted on 3/27/13 at 8:06 pm to Vols&Shaft83
It never fails that within a few days of bailing on a stock, it'll rebound and you will miss out.
However, if you keep it, you're guaranteed for it to go down..
However, if you keep it, you're guaranteed for it to go down..
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.
Posted on 3/27/13 at 10:39 pm to djmicrobe
Aa is a stock I've held for a long time. Way too long probably. I kept buying more to lower my cost basis but it's prolly around $10 a share. The div is weak, but with the amount of shares I own I get a few shares a quarter. I like the CEO, I'm prepared to wait, but it's a stock that will most likely just sit in my portfolio for a long time. If it drops below $6 or $5 I might buy more, until then I'll just sit on it.
One of my least favorite stocks in my stable
One of my least favorite stocks in my stable
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