HarryAloof
07-15-2014,
I've been tracking AA like I have been with GE, and like I had done with GG for so long and it is paying off.
Last week, I went long on Friday when the Dubai spectacle caused most everything to drop and I went long with AA and GE and both paid me nicely this past week, got out of AA yesterday as it had risen all day long and out of GE today, close to the HOD.
I saw AA had channeled twice from 13.50 to around 13.40 or so and took a chance shorting it after noon and it paid off as AA dropped as I thought it would as everything has gone up so much lately and the markets were up/overbought.
The nice thing about AA is is is relatively cheap at 12.50-13.50 and I hope it ranges here for a while like GE has been in its own range. I also like the relative safety of GE and AA in that they won't do anything too crazy like AIG and go up or down wildly.
The market could very well be in the Santa Rally mode till the New Year so if I can confirm that things were in a dip today and again tomorrow, I'll buy and go long again, if not, I'll short AA and GE for what they are worth as my 2nd ever time shorting worked out again with AA today.
Last week, I went long on Friday when the Dubai spectacle caused most everything to drop and I went long with AA and GE and both paid me nicely this past week, got out of AA yesterday as it had risen all day long and out of GE today, close to the HOD.
I saw AA had channeled twice from 13.50 to around 13.40 or so and took a chance shorting it after noon and it paid off as AA dropped as I thought it would as everything has gone up so much lately and the markets were up/overbought.
The nice thing about AA is is is relatively cheap at 12.50-13.50 and I hope it ranges here for a while like GE has been in its own range. I also like the relative safety of GE and AA in that they won't do anything too crazy like AIG and go up or down wildly.
The market could very well be in the Santa Rally mode till the New Year so if I can confirm that things were in a dip today and again tomorrow, I'll buy and go long again, if not, I'll short AA and GE for what they are worth as my 2nd ever time shorting worked out again with AA today.