RE: AlcanJust look at Barrick this week...everyone in the market said a must buy...then S&P downgrades the debt and down and down she goes. Now they are questioning her hedge books again and what the true value of Placer assets are....good timing folks.
By the same token, AL is a joke at this level based on the repeated losses IMO, and rising energy costs. This stock is very sensitive to global demand factors and any disruption of the perceived demand and she will plummet IMO.
I have been successfully and repeatedly shorting AL. If you have no P/E ratio, you don't deserve to have a steeply rising s/p IMO.
The price is being propped and driven up by artificial demand from speculative fund managers betting on a beter future. Their narrow vision is not adequately factoring in the slow downs in the auto and ariline industry, the increase in recycling of aluminum and the rising energy costs. JMHO
As the old saying goes, a fool and their money are soon parted.
Good luck to all. You may need it more than you can imagine.