This kind of pin action doesn't make the hearts of the levered long momentum investing community grow fonder - that, I can assure you. Since my "Fading Fast Money" call on May 21, Alcoa has lost 1/3 of its value.
Short interest is only 2% of the float and we have some "concentrated" hedge fund players on the top holders list that are getting pretty good at buying tops. This continues to look like a great cyclical short.
Earnings season has officially begun.
KM
(chart courtesy of stockcharts.com)
Short interest is only 2% of the float and we have some "concentrated" hedge fund players on the top holders list that are getting pretty good at buying tops. This continues to look like a great cyclical short.
Earnings season has officially begun.
KM
(chart courtesy of stockcharts.com)
