Job Figures.
Unemployment claims eased at 469000.
Commodities continue their rally. Commodities stocks in focus this week and next week.
Demand for Aluminum increased sharply. Most probably China is back.
See the Total Tonnage decrease and Cancelled Tonnage increase.
Look at the 6 Month Aluminum chart. Alcoa Inc is still underperforming as compared to the Commoditiy itself.
Notice that Aluminum has already broken out upwards. And it is heading for its strongest resistance at $1.00
When Aluminum rallied the other time, Alcoa was rallying from $13 to $17.65.
I guess we have to wait for any broker's upgrade to allow Alcoa Inc to rally.
Compare a few commodities stocks charts.
(all charts are daily chart. from January to date)
Cliffs National Resources $CLF
$FCX
Century Aluminum $CENX
And lastly. Alcoa Inc $AA
If the charts were to speak for themselves, Alcoa Inc looks deeply underplayed during this commodity rally that started in February.
As the economy shows signs of recovery, go long on Cyclicals like Alcoa.
Long Bank Of America Corp, JPMorgan, Wells Fargo.
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