Allegheny Technologies

ATI

Company. "Allegheny Technologies (NYSE: ATI) is one of the world's largest and most diversified producers of specialty materials. We operate production facilities, service centers and sales offices throughout the United States and in 17 other countries. Our 8,800 talented people use innovative technologies and systems to offer growing global markets a wide range of specialty materials." (company website)

Buy. Allegheny has been climbing steadily since it bottomed in mid-May. I recognized that I was getting in very late, but thought that I could make a few bucks if I played my cards right.

Sell. ATI made another new high yesterday, but it did it on a day when the stock actually closed down. This set of flashing yellow warning signals, so I was watching closely when the market opened this morning. It opened down ever so slightly. In an excess of caution, I put in a sell order.

This may or may not turn out to have been wise. True, today was the second down-day in a row, and today's volume was much higher than normal. On the other hand, for all that activity, there was not much price change. On the other other hand, the price is almost 30% above the 50-day moving average, so it does not seem unreasonable that it might pull back.

It will be interesting to see which way this one goes.