This is going to be a particularly interesting week. The stock market is a ridiculously silly creature. The Dow Jones has an 'horrific bloodbath' which in reality is less than a 2% drop. Lithium prices didn't drop, and the long term lithium prices aren't impacted by daily fluctuation noise, so fundamentally it is irrelevant for us, but here we sit potentially looking at seeing 31c support being tested (some say even lower) or a breakout above the low 40s, and despite most reasonable people being sure we'll see over 60c before the end of the year and likely over 80c, with more in 2023 and 2024, many of those same people are freaking out about what we'll see this week.
This insanity upsets a lot of people, it defies logic, but only because people involved in the stock market are themselves ridiculous, especially with irrational fear (greed also drives people to make absurd decision, and there's plenty more insanity littered through it), and others knowingly exploit that to exacerbate the impact. It's part of what I love about the stock market. Once you stop expecting people to be sensible or logical or honest, it makes so much sense and some aspects become very predictable.
AGY Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
