Getting ready for 60s?
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Yes another decent play but on a smaller volume, a gain of 1c. Highest finish since it lost 60s.
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On a day when Li stocks did not do very well, a good day here. To me it seems like consolidation happening before the next leg.
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Yesterday US indices did well, led by tech stocks, but Li stocks were flat. A similar story we have heard for long. ALB finished slightly red. ASX Li went weak on that play.
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Personally I exited my stocks today average around 60. In last phase I had exited at 90, so did not make gains like last time. In this phase, I first bought on 12th Jan at 62. So roughly 6 weeks play for me, with few full exits in between. As I wrote last time, my average was around 40, bulk of buys in early 40s and late 30s. After selling, I was contemplating if I did right. I was buying in 30s last month when the stock was the looking the weakest. I sold today when it is looking the strongest. I thought it was ironic.
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So why did I sell? I can openly admit that WC8 is one of the best prospects in ASX Li. It's also rebounded strongly from its lows, rising nearly 70%. Honestly there is nothing much not to like. The only reason I sold is I play a number of Li stocks. I felt that if Li stocks have to rise, the sector has to do well, or at least be neutral. Many Li stocks are at 20% gain. So I thought I will take a punt and move it to others where percentage gain from here might be higher, but I could be wrong. . But it will only work if sector is doing well. WC8 could still do well without the sector, so that's one negative point for my move. Secondly I wanted to see how this 60s play out. And lastly I feel we are getting close where an announcement may be needed for the next big move. I want to see what that is and how the market reacts. I had wanted at least one play on 62, my first buy of this phase. It came so close at 61.5. Maybe it looks like my next will also be at 62, but this time up. Let's hope it plays out that way.
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My best wishes to everyone over here. There are lot of knowledgeable and committed people here. Many have already done very well, but the best may yet to come. Hopefully shortfully. I am sure I will be back, who knows even next week. I know many don't like if someone sells and I always get a mixed response, so am bracing up for that. I am one of the few who always writes when buying, with price, and selling, with price - not later, but when it happens. Don't know why I do that, but have kept my discipline. All the best.
(20min delay)