Last Thursday I mentioned Aluminum Co. of China (ACH 57.78) at 55.75 twice:
ACH (55.75) looks ready to move. China looks like it bottomed yesterday. Knowing that the Fed will cut will start to put the recession comments on hold. Just a few days ago China blamed the US for it's weakness. The US market rallied, and I think China rallies from here, and the volatility premium on the calls on ACH have come out significantly..
Now I think ACH goes to 62, and it does it by Tuesday. You have the bears pressing the market attempting to contain it at these levels. Bernanke speaks tonight, and he'll be supportive of lower rates. And that should help the overseas market, which in turn will help ours tomorrow. And ACH, should be a beneficiary of a non-recessionary viewpoint.
Now the whole world seems to be in agreement that the Fed will cut by Tuesday. So the next five points on this are easy.
Take the easy money! The hard work has already been done!
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