surfs'up are you for real? yesterday your sentiment was buy....

surfs'up are you for real?

yesterday your sentiment was buy. today your sentiment is sell.

Alcoa is up 5.5% at the moment during US trade and its a fairly solid result for the way the markets have been lately and resources. What makes you say this is going to $1.20?

How do you know Alcoa is going to win? how do you know that Alcoa and AWC won't come to an agreement regarding the break up / capital structures / marketing rights etc?

I'm currently looking at the short position summary for this year at on the 4th of January 2016 AWC short positions were 12.97% and nearly getting as high as 15% that month

On the 6th fn this month the shorts were around 8% and on the 5th they were 5%. Overall it has been trending downwards from the 9% mark till mid to low 8's. Now go look at the chart for AWC in the last 6 or 7 months. From below $1 upto nearly $1.50

The market has known about this little spat for quite a while now and point is nobody has panicked. Those instos are actually quite smart. Because I think they're looking ahead at the bigger picture and regardless of the outcome they are probably starting to see some longer term value in the Aluminium / resources sector and gearing up for it.

I wouldn't panic.