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I have about 1000 shares in Alcoa, 512 I...
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I have about 1000 shares in Alcoa, 512 I bought at 7.88 and 482 or so I bought at 8.28. How fucked am I?
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>>1032178
why did you even buy it?
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>>1032195
Because they're profitable, low competition, aren't saddled with alot of debt and have the largest supply of Alumina and Aluminum in the world. The closure of some of their production facilities indicates that they could be trying to stem supply to keep the price of aluminum up and with a potential shortage in China's Manufacturing this could jack the price up which would benefit the largest holder of Aluminum. Panic sellers go nuts at the thought that they're closing a production facility and now the price has just collapsed.
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Wait it out
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>>1032960
I'm doing that with my Enron stock.
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>>1032178
stop investing
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>>1032206
China turmoil -> reduced demand -> reduced manufacturing -> ???
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>>1032178
Well, I'd say not as fucked as somebody who bought steel stocks st $25 ::cough:: but at worst you're out $8K. It could still recover when the real (non-financial) economy starts working again.
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>>1032178
people who buy shitty companies deserve to be WIPED OUT.
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>>1032178
>buying weird amounts of shares instead of by the hundreds

your failure was bound to happen, luckily they just got upgraded by Macquarie
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>>1034516
>buying weird amounts of shares instead of by the hundreds
I think OP was buying by the thousands of dollars.
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>>1032178
Good question anon. I don't really have an answer except to say I don't think you're all that fucked. AA has been on my watch list for a while. Commodities have been hammered for the last couple of years but I think we're getting close to the bottom. I'd hold if I were you.
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>>1034556
yeah but selling an amount of shares that doesn't end in 00 takes a lot more time because the broker needs to find a way to sell it to a buyer w/o any leftover shares. And since most traders know better, it'll take alot longer and when OP sells, he probably won't get the price he thinks he will
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>>1034556
You've never placed a market order for 1000 shares and had it fill at different prices? $.40 is a pretty big difference but it happens.
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>>1034752
Another /biz/ who has never traded chimes in
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>>1034754
Are you saying that when you place an order for a 1,000 shares, they aren't all bought at the same price?
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>>1032178
hey I used to work in the mining industry. It is very tied to global economic health in my opinion. I wouldn't be speculating into it unless the global economy is looking like it will surge.

With stocks really it comes down to buying something at a price that is less than you figure its worth and sticking with it until it's more profitable to dump them for a profit. I mean I look at it in terms of how long would it take to make 15% or something which was often coming up as 3 years in my case in dividends. If a chance to make that in a few months popped up by selling for a profit I usually did so. In a couple of cases unexpected things happened and I sold them for a lot more than I bought them or had to wait out until they recovered. I'm an amateur to be sure but I also never lost money in about 10 or so transactions. I broke even on 1 that took about a year and a half to get back to what I bought it for.

>>1033398
Also this anon gets it. Much of the mining demand in the world is dictated by china. This in turn is tied to US and Europe demand to an extent but also in china itself which has a rising consumer population.
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>>1034764
If you place a market order then that's exactly what I'm saying. Depends on the number of buyers and sellers at the moment you click buy. You can place a limit order at your specified price but there's no guarantee it will get filled.
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>>1034787
Probably the truth of it, I think in a normal economy the price of Alcoa is still low so I'm going to hedge my bets elsewhere, but hold onto what I have which is about 8600 dollars in stock. Thanks for the input everyone.
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Covered Calls bro
1000 alcoa shares at 8025.52
Current call price .59
Dividend = .03

assuming 3/8 calls fail b/c gap up or low volatility.

.59 * 1000 * 5 + .03 * 1000 = 2980
2980/8025.52 = . 3713 Return on capital.

37% is okay bro.
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