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All of this -- Policies in the -- of the CMA.
David Cook -- is our resident ball and -- is a big glut is -- growling bear they're gonna duke it out.
In our street fight today let's start -- would taught at the CME.
-- thought I was discouraged to see those few minutes at the end there of the trading session going down.
Doesn't foretell well for what happens tomorrow -- it.
-- you know that we have today David noted that doesn't and the markets little heavier the one vehicle look yet hit the Biden was very poor today.
Waiting I think you see how these earnings -- -- and play out we have a very adverse scenario -- well because we've got.
The Russell and the NASDAQ both.
Underperforming the Dow and the S and they would -- the -- today is bring up a very bearish scenario we might be starting to get that correction we've been looking for.
Okay that would be interesting wouldn't it be but that the as you look at the -- that volatility index it's still relatively low -- If we thought it was very interesting that that vanguard came out and set for the first time ever more of their hundred participants appliance.
Own bonds instead of stocks I don't know -- that looks very very sort of contrary to -- -- -- that -- have granted the stocks.
You're very correct the mix is a concern because there's still much complacency here in the market.
Which is why we've been able to hold up and -- have these major sell -- talk we've got the news from Alcoa forgive me for interrupting Robert Gray -- the.
Yes right David out cause -- coming and when you exclude items here or an operating basis they earned three cents per share that is better the Oscar was for breakeven zero cents.
Revenue numbers five point eight billion dollars for the quarter that's also exceeding the estimates of five point 54 billion.
They did take down -- their 2012 global aluminum demand forecast to 6%.
From 7% as they -- thus citing the slowdown in China -- outlook impact the second half -- that I do still see.
Seven and a half times.
Current demand by the year 20/20 -- standing by then they're also saying that.
Yeah according to -- call what they're seeing for as far as demand goes it is as separating the price of aluminum from fundamentals and is clearly following the am the macro sentiment.
As a folks don't -- put -- again they are beating three pennies beat the estimate for -- That is the key and I of course expectation I'll go back to -- at this Jimmy on this side the fact is that expectations were really poor so.
Anything on the plus side -- that -- that they probably see a little bit of a pop in the stock after hours but this is good news right.
It's it's good news but you know I'll -- -- never been every harbor.
From the crash of galway is down from forty done and I've had been -- leader -- -- fifteen dollars.
It really doesn't trade very well I'm -- and yet that's good news for the overall market.
But it's beating downtrodden earnings to begin with and the -- is never gonna really able to come off the mat.
So it's not one I'd really be looking at here although I'm happy as did they did because maybe they'll bring some good news.
To the rest of the market while on on top of that they have cut costs they permanently closed their smelter in Alabama and you wonder can you cut and yet grow with the same time a lot of companies have been able to do it but.
In a tough economic and it.
Atmosphere with so much -- against materials at this point can Alcoa really set the tone for the market to -- I don't think so I think the news itself might help set the tone.
But I think that alcohol is a really a broken down Sok -- here.
I don't think it has a lot future potential is not one that I would want to be involved with so maybe -- news that they could beat earnings maybe the news that may be evil but a helping -- -- world.
Can help but I don't really think that this is gonna be the big catalyst that's gonna push into the upside nor the downside all right Todd Horwitz thank you -- we're gonna come back to -- when the SP futures.
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