Ultimate bearishness for Alcoa

Last night, Alcoa (AA) reported great earnings and beat all the estimates of analysts. Its shares shot up immediately in the after-hour trading to as high as +3%. You would think AA would be a clear winner today, right? Wrong! It did shot up higher at the opening but almost immediately it started its downward journey throughout the day. It ended up being down over 2% by closing today. What a terrible day for Alcoa! If you listened to me, this should not be a surprise to you. Just a week ago, I advised to get out of Alcoa if you held AA or short AA if you knew how to do. I did short AA and definitely happy to be in such a position. When a stock cannot go up even at the time of great news, it has reached its top and will be nowhere to go but down.  AA may go all the way down towards $10 some day.