Our long in AA from Monday as an earnings play, looks a little like it's losing some intraday support, it's difficult to tell if it's just a consolidation or something more because it's only on an intraday 1 min chart so far.
I'm still trying to decide if and how long I want to hold AA, it's already at a +5.1% gain for the last 2-days since it was opened. Whether I decide to hold AA or not is more a matter of whether I think this was an earnings leak and that's it (in that case I'd have to estimate about how long it would take to distribute the accumulated shares) or if this is something more (which still may be an earnings leak, that's why I liked the position initially, it looked like an earnings leak, but if there appears to be intent to hold AA for a longer period/move, then I don't mind having a long hedge like this.
I'll have charts up shortly.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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