I readily admit I am not the most savvy and knowledgeable out here when it comes to reading financial reports...but, here is my take on Alcoa.. Alcoa said they had a profitable quarter...but, wouldn't there profitability REALLY been way the hell down...had they not received $520 million from the sale of "Shining Prospect"? Do a search on this page for "Shining Prospect" -> http://www.alcoa.com/global/en/news...91007006308en&detailType=invest&newsYear=2009 If you have insight, then I am all ears! -gastropod
What counts is the "positive" earnings "surprise". Q4 will be much better for Alcoa- as we all know we are in a "sustainable" recovery...
Ascoa made a "profit" of 88mm only through intense cost cutting and extraordinary items (like asset sales). The scam artists of Wall Street are setting the table for a sheeple slaughter - check out the parabolic S&P thread in the trading forums...
questions just like everybody else, no insight... who ever thought at this precarious moment in time, that a staid firm, like Alcoa would represent the hopes and wishes of a stock rally? what is it about their earnings that would help, signal or convey confidence or future stability in the markets? well, the 8:30am economic report is factored in already, and the opening at 9:30am has not happened, perhaps the overseas money will continue the rally for the next 8mins, and then the CME guys and the other trading shops will recognize an oversold condition and begin to take back the +82 DJIA futures premarket and then pair into the gains from the prior few days.... what's the basis of these rallies anyway? happy talk?, there remains millions unemployed, not even contributing demand, let alone supply out there...
I just don't think that the average investor is smart enough to read between the lines. I also think the average trader doesn't have time to read between the lines and doesn't care and will just go with the hype. I think it's one piece of "positive" news that the market can feel it has a reason to rally on. I think some more earnings are coming out, should be interesting to see how the day closes and how Friday/Monday look.