RTP will go DOWN
$49.00 on 1/04/09
$211.90 (248.98% from time of market call)
This analysis really should have been posted on monday, since it would have been more valuable then. RTP is going to recover from the expense of purchasing Alcan, however with the reduced profitability of the mineral market, its going to be a long time coming.
Given the general flow of pessimism in the market right now, you can expect Rio Tinto to continue its slide. Without positive news to deliver, and its unlikely to have any, this stock is going to continue declining as investors shy away from its downward trend.
Long term this will go up, but as long as the market remains in its current quagmire, expect casual investors to avoid this stock like a slug avoids salt.
Well I couldn't have been more wrong on this stock.. I day
traded this more than once on its decline to 56, then got out if it
when it went back up to 60. I didn't want to have to track a
stock that was acting irrationally. So now, I lost out on a 55%
gain (Probably more like 60% if I had held when I bought it the
last time)