With Asia doing quite good so far today (at least for Japan & Hang Seng), aluminum price remaining above 0.86 $/lb, I would say a bold green day, similar to Oct. 31 & Nov. 1st combined together, or again a 2-day (Friday-Monday) combo. Very similar conditions + again excellent news of Wednesday.  We should be heading back above 50-day MA (2.76).  But Market might decide otherwise...

 

Today's pictures show that Orbite is getting closer and closer to commissioning announcement and first production.  Market anticipation should start entering into action, but so far it has been contained by poor conditions and cold shower from shorts.

 

Shorts are amplifying downwards movements but also upward ones (action/reaction...).  Yes, they have helped to remove 2 cents on the share price today, but most probably at the very high price of increasing again their short positions and exposure & lowering their average short selling price (increasing their risks).  Meanwhile, some big guys are on the accumulating mode. 

 

Date Open High Low Close Volume Chg % Chg
11/15/2012 2.500 2.520 2.370 2.500 2,225,814 -0.020 -0.79%
11/14/2012 2.670 2.690 2.510 2.520 617,564 -0.110 -4.18%
11/13/2012 2.630 2.660 2.580 2.630 290,495 -0.030 -1.13%
11/12/2012 2.700 2.700 2.630 2.660 334,362 -0.010 -0.37%
11/09/2012 2.630 2.690 2.570 2.670 571,156 0.020 0.75%
11/08/2012 2.700 2.720 2.650 2.650 377,804 -0.010 -0.38%
11/07/2012 2.720 2.730 2.620 2.660 553,274 -0.050 -1.85%
11/06/2012 2.750 2.750 2.700 2.710 422,777 -0.050 -1.81%
11/05/2012 2.700 2.790 2.700 2.760 360,671 0.020 0.73%
11/02/2012 2.810 2.820 2.680 2.740 926,469 -0.110 -3.86%
11/01/2012 2.840 2.930 2.760 2.850 1,866,561 0.110 4.01%
10/31/2012 2.510 2.790 2.500 2.740 2,009,722 0.260 10.48%

 

15-day graph:

ortnov1515days.jpg

 

6-month graph:

ortnov156months-1.jpg

 

 

Fundamentals are strong.  Orbite will allow Aluminum companies to do better in tough times with lowering the costs of raw material and transportation.

 

 

Alumina1

 

 

About the Shorts:

Here is updated Short Interest info based the latest data fo
 
| posted on 11/11/2012 2:07:07 PM | reads: 1143 | overall quality: 5