Century Aluminum Company [[cenx]] just reported a shitty number. They have been reporting shitty numbers since the stock was about $70. So today should be no different.
This stock has become the de-facto speculators aluminum trade. It is now back to what I paid for it about 2 weeks ago after buying it twice, near 11.50.
My target was 14.50 and it didn’t get there this time. I am setting a 10 stop on the stock and I will keep you updated.
My other names are holding well. But we will always adapt to the changing market condition if need be. So far, the SPX 1075-1080 area is my downside “stop and reverse” target. Pay attention!
If you enjoy the content at iBankCoin, please follow us on Twitter
The aluminum industry is like the auto, paper and airline industry, too hard to make any money
Agree with your assesment at this time. But this is a very volatile trading stock that is very rewarding–as long as you can pull the trigger when appropriate…
Nothing worse than letting a profit slip. I hate that.
Get into the smelter!
(I’m in, already)
_____