adt at support level i would like to see buying volume come in to adt lyc and pls before deciding yes pls is best of breed for the lithium it is such a prime living example of the commodity cycle. it succeeds with its project. it produces. it grows to pay a divi and then when the commodity reaches oversupply then it falls. now there are questions about its divvi. that is the real cruncher for pls. it is the same stock. same project. same management and it is being hammered. for now anyway we saw it with so many others. some see a write off. i see opportunity. once demand picks up then so too will pls. i just need patience and to watch it similar to adt on the hammer to $1.50 whc to 60c. and so on
yes pru and nst. quality buys and again would like to see some volume coming in i dont mind waiting. if i miss the bottom so what. there is a burst of green then it retraces as the daytraders and market movers move on to their next trade and i can buy it safely at a good support level
spx brings a smile. through 4800 and now the darvis break. we will see what level it reaches there is also some decent volume coming into copper here. bhp hch sfr all responding which is exciting after a dour but good 2023
the extent of the gains and period of time in the spx is now similar to the gains in the period from march to august last year. so do we expect a backtest coming up? what level. the run back then was 700 pips. the retrace finished at a higher low. the writing was on the wall for a burst up. we have now gained 700 pips again. so where to from here. a nice closing spike up with volume or fade down?
who knows. growth in my consumer stocks has happened and there will be divvies this year regardless of levels
the frustraring really frustrating part for me is we see the gains in the bluechip banks and consumer stocks and not so much in our commodities the spx and US$ flow up and the asx does not reflect it we get a very limited period of time in the cycle for the asx to rise and then churn 90% of the time i experienced it in the cycle in 2016 onwards and it was frustrating then
anyway on this run i posted about the consumer stocks jbh wbc mqg twe over the last year or so having their turn. some have had more success than others . jbh been stellar. asx found support at $60 and added 10% in the last week. twe has issues and been crap but will have its time again
so a lot there to mull over for this next leg of the cycle
but i say it again it is really frustrating to see spx on a darvis break and our asx really struggling except for the blue chips there is a lesson there. i cant fight the market and i needed to adapt which i feel i did
i would like to see pls run here. it should but my trigger is some volume. over time it will be very good again. i think it is the best one of the lot a nice cleansing hammer would be good. it may just churn up again. either way is good
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