I am currently watching Alcoa (NYSE: AA) that has given me 4 sell signals in the last month.

Obviously I will not divulge how my system indicates a sell signal but I will say that there are 4 and they are strong.

I am still in a very bearish mood on the NYSE (in fact all markets) and feel it can turn any day so I think that the only positions i will take are shorts.

Although it looks as though there is a defined trend downwards, the market rallied yesterday which hopefully will be a temporary blip rather than a market turn. As the chart clearly shows there is a potential for the trend to continue down to a major support level around 1000 points (current price is 1537).

I will probably trade this if the price falls below the recent support level at 1460.

Remember, although it looks like I should have acted on the first signal to make a profit this is the weakest one and often proves to be false. I like to trade the trend and only when the trend is confiirmed, 1 signal is not confirmation.

Also remember these are my own personal views and should not be treated as trading advice for your own trades.