Sunday, March 22, 2009

Alcoa spark

The surge in commodity stocks last week following the Fed’s move to monetize U.S. Treasury debt was pronounced. Gold and silver stocks were the big winners, but industrial commodities also lit up. Alcoa (NYSE:AA) advanced 14% on unusually high volume of trading. Over 1.1 million transactions last week turned over 552-million shares. The stock remains Stock Trends Bearish, but the level of trading in AA was a positive signal for a breakout from the prevailing baseline.

Technorati Tags:
Post a Comment