AA Alcoa

aa jul 2012

Alcoa did continue to drop as expected, but at a snails pace. Essentially it spent 8 months triangulating and going nowhere. At some point it should still trade below the $6 level. it still sports a p/e ratio of about 24 so from that metric’ point of view that is not unreasonable. Here, once again , is the big picture. The company is reporting next week.

AA jul 2012 b