AZL General Discussion, page-9106

Another miserable day

Yes, AZL lost 1c to finish on 11c. Our volume was double of last few days, over 48m shares traded.

ASX Li stocks were again behaving as they have been spooked. Of the 43 stocks that I track, average decline was around 6.5%.

US Li stocks did not give us a boost that we really need. he ETF of LIT finished just under 1%, some stocks were in green, but mostly there was a decline of 1 to 4%. Still they did better than us, we are dropping more than them. Local ASX factors in play.

So stocks are in constant decline. We are still 3 weeks away from EOFY. Where is the bottom? . I don't think anyone will be able to pick up the perfect bottom. A lot of selling has already happened for various factors including EOFY sell. At this stage there is no strong catalyst except hoping the general macro stays strong and US Li stocks move forward. For us, maybe another week in doldrums. Those who believe that we may rise in near future, the time for staggered buy has come as its difficult to pick the bottom, so a percentage of total buy intended - we have reached that stage.

What next - Yesterday I was hoping that US Li stocks do well, but DOW declined and Li stocks were soft as well. So we did not get that boost. DOW is expected to be green on probability, its now gone into a see-saw of red and green. Lets hope we get that including gains in Li stocks. That may not be able to give us a big gain, but we could be sideways. We need to bide another few days. Some positive catalyst like a report etc could give us a boost, but sentiment over here is weak. All that may change in due course, but for now to play your game - buy/hold/sell as per your risk reward and expectation of future. All the best.