Wednesday, January 13, 2010
Who sold on the Alcoa news?
Alcoa missed, and then Wall Street wanted you to believe we'd never buy another tractor, plant another crop, build another house, or buy another car.
But speaking of AA--that stock is a buy, despite my misgivings on Alcoa's management. And I can talk about AA. After all, I touted it when it was 5! Along with 8 other names that tripled as a minimum!
(Here's Citi's latest on AA-they upped estimates for 2010, and were impressed with AA's cash flow-page 17)
North America Investment Daily
But yesterday they pounded stocks from the opening bell. They sold the steel names, they sold the coal names, they sold the agriculture names, they sold the material names, they sold the financials, they sold tech, and then, they sold you, once again a phony bill of goods!
Remember that China was down 3%? Oh my! The "bubble" in China is going to burst. Save me! Wait...wasn't that supposed to be scary also?
The bears wanted to give you a Halloween surprise for the New Year.
Instead, they got this!
You want something to roll over?
Get a dog!
Because it ain't happening on Wall Street!
Despite all the stories they tell!
Posted by Palmoni at 6:47 PM