Flash Alert: Aluminum Corp of China
Lower your stops to USD51 in the Aluminum Corp of China (NYSE:
ACH) short.
In VRI, 15 November 2007, Maintain Perspective, we recommended shorting Aluminum Corp of China as a hedge to our long exposure to the resource sector.
If you took our advice and entered the trade at around USD56, you should now lower your stop to USD51. This move will lock in a 10 percent gain for now.
The stock is already down 20 percent since the short was recommended. We’re using a loose stop because this is a hedging position to a long-only portfolio and isn’t treated as a stand-alone trade.
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