Every week Briefcase Selection presents a number of possible long and short position. Which are for trading in a short term period, and should not be hold for any longer than a week.
The presentation is for general informational purpose only, and does not constitute a financial advice.
The company is scheduled to report 4Q 2012 earnings after the closing bell on Tuesday, January 8. the company has severally been oversold for sometime and it is expected to have a turn around in the current 2013 year with industrial production around the globe to go into a new gear. Specially after strong demand for aluminum is expected to grow and Aluminum price should decrease. While lower aluminum price could affect earning y could in the other increase demand and production.
The US dollar could benefit after the fiscal cliff have been resolve. But the currency is weekly influenced by weekly economic announcements. There is a strong pattern in place indicating an eventual lift to the US Dollar in the early part of the week and before Friday unemployment announcement.
The three month contract is signalling a good bearish signal to trade. Since 20 of December the price of copper increased from $3.52 to $3.75. Back then, there was speculation that stockpiles were increasing, therefore prompting an evident slow down in industrial production.
Hong Kong Index
The Hong Kong Index have been over performing and is expected to pull back.