Looks like i'm going to get my fingers burn't here, i bought in on the spike down day, nearly sold them off at 40 on the bounce but missed and wrongly thought they might have another crack, the shortman numbers also showed large volumes traded with singlr digit shorts sold which made me think some shorters may have been covering, however the delayed numbers today show there wasn't alot of short covering going on. So here i am stuffed with a few PLS suspended in time like a sitting duck and at the mercy of them slippery big macs and others........Oh well, TA trading has its downside.
Otherwise i'm still bearish lithium in general, theres plenty of it and these LIT EV's are going to take time to grow, especially in Oz imo, the distance and time to recharge is unacceptable, we have to cover alot of ground in Oz. Personally i think Hydrogen fuel cell cars are the go now the CSIRO have worked out how to convert amonia (from memory) to Hydrogen at the pump.
Anyway the suspension here can only mean one or two things imo, they either trying to find a better deal than on the table and going for more than 30c or the 30c is too high to get it away, the real problem imo is they don't seem to be in a position of power to negotiate meaningfully. Maybe they'll pull something out of left field but its not looking pretty.
PLS Price at posting:
35.0¢ Sentiment: None Disclosure: Held
(20min delay)