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ACH stock is in direct correlation with the DOW. The dow is near the bottom and ACH is on sale. When the DOW bottomed in August...ACH trippled from the bottom. I'm not sure if ACH will make the same move again, but I think at leat 50-100% for sure. Here is the DOW and ACH CHART's
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Trend line down, short term. It is still riding below, the trend line.
Best I can tell tale, the resistance is around 53.01. Support being around 49.23. These readings puts the stock into a very narrow band.
It has also retraced back to the up gap that started on 8/24/07.
Also found a up trend line with ending point of 40.80. This will be basically another support at lease for today. -------------------------------------------------- In regards to possible legal issues, be advised:
The above information is not a recommendation from myself to others to buy or sell, nor does it provide to other individuals a recommended timeframe for the entry,exit for a stock transaction. Any individual can use the information as they so choose, but in doing so, that individual accepts full responsibility for results from the use of the information.
I, Chuck, can accept no responsibility or liability for any other person's use of the information for their personal trading. -------------------------------------------------------------------------------- ------------ Chuck Posts: 330 | Registered: Nov 2007
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AP Dow Gets Biggest 2-Day Gain in 5 Years Thursday November 29, 12:54 am ET By Madlen Read, AP Business Writer Stocks Soar, Dow Gets Biggest 2-Day Gain in 5 Years As Investors' Hopes Grow for a Rate Cut
NEW YORK (AP) -- Although Wall Street has logged its biggest two-day rally in five years, no one is ready to declare an end to the credit crisis that has pummeled stocks since the summer. Moreover, the Dow Jones industrial average will have to keep posting gains this week to keep November from being its worst month since September 2002.
Investors desperate for some good news about the economy and the struggling financial sector got some Tuesday and Wednesday as a Federal Reserve official hinted that the central bank may lower interest rates again, and cash-raising initiatives were announced by Citigroup Inc. and Freddie Mac, the government-sponsored mortgage investor. Both companies have been hit hard by the steady stream of soured mortgages this year.
The belief that falling rates and an influx of cash could stanch, and perhaps reverse, months of losses at mortgage lenders and investment banks and help stop the economy from weakening drove the Dow up 331.01, or 2.55 percent, to 13,289.45, adding to the blue chip index's 215 point advance Tuesday. That gave the market's best known indicator its largest two-day point gain since Oct. 11, 2002, and its largest two-day percentage gain since Nov. 21, 2002.
But triple-digit moves -- including jumps one day and plunges the next -- have become commonplace on Wall Street the past few months as investors' optimism about an end to credit market problems has alternately surged and then evaporated. And so the Dow, which plunged 240 points just this past Monday, remains more than 6 percent below its Oct. 9 record close over 14,000, having succumbed to worries that the housing market's slump will lead to further losses for banks, and that the Fed can't keep slashing rates.
Fed Vice Chairman Donald Kohn, supplying the soothing balm the market needed, told the Council on Foreign Relations Wednesday that recent financial turbulence has reversed some of the improvement seen in markets in previous weeks and could squeeze credit for households and businesses. He said tight financial conditions may merit "offsetting" policy from the central bank.
That was enough to send stocks soaring. The Fed has already reduced rates at its last two meetings and continues to inject billions of dollars into the financial system through repurchase agreements to help calm the shaky markets. The central bank will hold its final rate-setting meeting of the year Dec. 11.
Some analysts were more upbeat after two days of big gains -- but they're also wary.
"Assuming the economy doesn't go into recession, which at this point continues to be our call, the recent decline in major averages should set up for a short-term rally in the markets," said Michael Sheldon, chief market strategist at Spencer Clarke LLC. However, he added, "the economy continues to face a significant number of headwinds in the months ahead."
That means the market is likely to remain vulnerable as economic data is released. On Thursday and Friday, Wall Street will be reading government data on gross domestic product, new home sales and personal income and spending.
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Notice ACH was green the last 2 days with the DOW movement! Just like the other great stocks....AAPL, GOOG, GRMN, BIDU, RIMM, FXI, QLD, Ect...Even if there is a Boat load of bad news, the charts don't lie...remember early 2007 all the bad subprime news.....the DOW still made record highs in the following months after the panic!!!
The DOW and ACH's MACD went postive today for the first time since the downtrend started
Learn to master the DOW chart, and you learn to master the great stocks!!!
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Here is a DOW chart from stock charts. In August when the dow had the rally of it's lows, The idicators weren't lined up nearly as well as right now! Check it out!
posted
ACH is up 3 days in a row now...to early to get excited now! I started this thread right after I bought some at around $54. So far I'm up over $2 per share...not bad!
Posts: 2321 | Registered: Aug 2006
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I flip back and forth through different intraday time frames like 5, 10, 15, and even 30 min charts....depending on how many days Im looking at. I pay stockcharts for the highest membership like $40 or something to get realtime intraday charts....it's a must have for me. I love stockcharts "real time" intraday charts. I also use quotetracker realtime charts cause they have the VWAP tool which is VOLUME WEIGHTED AVERAGE PRICE. I'll post some charts later! When I bought at $54 it was on excitement of the market making a nice move, I didn't time it that good with the chart!
I'll post some charts later....here is a 5 minute chart over 7 days! If you notice at the end of day on the 26th the rsi was way over sold...it would have been great to buy then right before close! Then it gapped up
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Here is a 5 minute chart from the today and yesterday in real-time...the rsi hit 30 today around 11:15/11:30 when it hit $56.10 or yesterday right before 2:00 around $55.12...great time to buy for a daytrade or swing play!
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ACE, I used the -MFI- most of the time. When I use it on a five minute chart I adjust the look back period, from 14 to four. This gives me a better read on a downside breakout. If I am bottom fishing. This is also a live chart . chuck Posts: 330 | Registered: Nov 2007
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quote:Originally posted by chuck9: ACE, I used the -MFI- most of the time. When I use it on a five minute chart I adjust the look back period, from 14 to four. This gives me a better read on a downside breakout. If I am bottom fishing. This is also a live chart . chuck
It doesn't matter what your favorite indicator is....as long as you can consitantly predict the direction of the stock for short term or long term.
ACH is obviously going up...at least short term!
Posts: 2321 | Registered: Aug 2006
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China's smaller aluminum producers recently announced to raise aluminum price from 3,600 yuan/ton to 3, 800 yuan/ton following monopolizing Aluminum Corp of China's (Chalco) price hike on Nov. 27, marking significant change of domestic aluminum market.
This price hike may results from increasing imported bauxite price and brisk domestic demand. Indonesian government attaches more restrictions for bauxite export and has halted production of unlicensed local producers.
During October, China imported 1.091 million tons of bauxite from Indonesia in comparison with 1.926 and 1.55 million tons in August and September respectively.
Plus, China imported 4.096 million tons of bauxite from India during Jan.-Oct., up from 217,000 tons in 2006. Furthermore, the CIF price of imported bauxite from India hovers at above 80 U.S. dollars per ton, up 60 percent from the beginning of 2007.
Surveys show that China's prime aluminum output recorded obvious growth during Aug.-Oct. with an annualized output of 13 million tons.
"We have emptied our four aluminum stockpiles thanks to increased orders and we expect smelters could absorb the lifted prices," said sources from Aluminum Science and Technology Co., Ltd. in east China' s Shandong Province.
Chalco's last price adjustment happened in September when it cut aluminum price from 3,900 yuan/ton to 3,500 yuan/ton due to market glut.
As of Monday, 12-03-2007 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 11-01-2007 for ACH * $69.16.
For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com
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