Another strong day today, higher low and higher high classic move on the way up.
The trend will continue for a while but the temptation to take profit becoming stronger and some day trade the stock and made a nice profit.
Chart looks a bit stretched but in a bull move chart may be in overbought level for weeks, for technical traders it is time to get ready to take profit.
I will wait a while longer and may be tempted to close 20% of my position......the shorts will get a bit more nervous.
Chinese number today confirmed the improvement in demand for metals and that includes aluminum....more than ever I believe AWC will go much much higher than 1.15
When???????????? I wish I had the crystal ball....but I am enjoying the ride while it lasts.....and betting on probability of a move up to 1.45 to 1.65 or even higher sometime in 2013.
Chers,
AWC Price at posting:
$1.06 Sentiment: ST Buy Disclosure: Held