General Discussion, page-39

Another day of professional accumulation. The trading today was very simple.

On this third day of accumulation, the volume was still below our rise and decline volumes with around 8.2m shares traded. First day of accumulation we did around 6m, next day 6.6m, today 8.2m. So we are getting ready for next leg. We finished 1c up at 51c, touching 49c below and 54c high. This is the 6th day in row that we have done higher lows. But now we have touched 54c three times and finished below - it is becoming a bit of wall. Our VWAP today was marginally higher at 51.5c.

ASX Li stocks also did well. The stocks that I track, average increase was between 2 to 3%. ESS made a gain of 2%, so was an average gain for us.

It is very evident that there is a capper who is pushing price down so that cheap shares can be picked up. It didn't want to sell and kept moving the big sells up and down to create pressure.

What next - Yesterday I had written that I feel normal accumulation would go for around 4 to 5 days. It came out true for today. The big boys are now there, but they are not ready for the move. They feel there are still some weak hands who can sell at this price, so they are happy to collect as much as at this price before making a move. The mid 50s is truly becoming like a wall and it will take a big heave to get over it. I feel we are getting closer. The zone around 52c is where the action is happening. Next big move should make it happen around 68c mark. Lets see if the big traders are ready, and if so, we could see a move towards the 68c mark and hopefully smash the wall and finish in 60s for once. All the best