Oh what a wild day.
I couldn't believe my eyes when I saw price around 66c. As I wrote several weeks back, I had exited at around 90, just before CR. Was waiting when to buy.
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I did pick up some today at 68. Not much compared to what I used to hold, but still decent. It's a strong sell, honestly I was in 2 minds, but decided to play with soft hands. If 70 is not looking like holding, I will exit. I am very poor in quantifying fundamentals and market caps, using LTR as an example which I have written previously , so don't want to repeat that, but as usual I will follow price action.
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So what may be happening? I know we all like conspiracy theories, but sometimes it's good to accept facts. When we were rising from 30s and 40s, many of my posts mentioned - something is happening. We knew later big buyers are there. It's the same now. It looks to me some big entity or entities are exiting. Not sure because of WC8 or Li sector. But they are. This type of big sell of last 2 days is usually not manipulation, although it might be so convenient to think so. So we have to accept the fact. Why they are exiting, we may never know. But their shares have to be flushed out first, before we can think of moving up. We don't know how much they have got, so price action is important, which I will follow. All this my speculation, I could be completely wrong, so please dyor.
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I wish everyone well, especially long term holders.
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These volatile moments can be very concerning, but part and parcel of stock market. Important few days coming up. Hope it's a good one. All the best.
(20min delay)