Some interesting info today:
1. While listening to the intro to Mad Money, Cramer indicated that demand for Aerospace is not coming down. He was reiterating comments from industry conferences and Boeing last week, stating demand is at the highest level since the 1970s. I couldn't corroborate his info, but I know Aerospace is in a boom (its the reason I am a fan of ATI), so I will lean forward and assume it to be correct. So this new tidbit on the demand side makes me like ATI more.
ATI is currently bouncing off support, and may see some resistance near 68, but it is very oversold.
It could chill here (between the 150SMA and 42) for a bit, while the other SMAs consolidate toward the 150SMAs, then move higher from current levels. I will be keeping a close eye on this one, but will allow the commodity to guide my entry.