Monday, April 18, 2011

Trade Update: AA

Alcoa Inc AA gapped down below our stop at $16.47. It opened at $16.36 so we are still in it despite having the stop in. There is no reason to panic right now, but we can't be complacent either.

The question is will Alcoa recover or crash from here? I don'y know, but so fat the days low for AA is $16.11. Now if Alcoa is going to recover and go to $100 per share by the end of the day then I would not expect for it to trade below it's established low. So, move your stops to $16.10 and let make the market take you out.

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