SYA Daily Report, page-265

Is this the beginning?

Yes SYA gained 1c to finish at 14c. Our volume was moderate, just over 50m shares traded. So a good day overall, but would have liked to have a higher volume. Although today was good and we made a decent 1c gain, I am still cautiously optimistic at this stage. Reason being the way trading has happened and we have been smashed, confidence is not very high. In last few weeks when we first reached 15c, next day we gained 1c to finish at 16. Then when we dropped to 14.5, then next day we gained to finish at 15.5. But this could e different, we did two days of 13 instead of just a day. And we are lower as well - the odds of reversal increases as we go lower - so much higher chance to reverse from 12.5. Hence we need some follow through for confirmation. For me the key would be to get around 15 for now - it would also be close to 20% from 12.5 bottom - a bullish indicator. I was tempted last few days, but thought its better to see a reversal. It may happen now, so watching and feel my buy is soon.
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ASX Li stocks were mixed but still ahead. Of the 75 stocks that I track, average gain of around 1%
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Overnight US Li stocks mixed with greens and red around, but moderate. Overall average was flat, no gain or loss
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What next:
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SP 500 lost another 0.7% to be on 4467. ASX though in green with around 0.3% gain.
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So the pullback I was writing in weekly reports last month or so in play. We have lost around 3% on SP 500 from top. It could go up to 6% - to be healthy pullback. So it could still drop some. The key number which I have been writing is 4300/4350 - many think 4375 could be in play as well. Upside, we need another 4600.
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So what will happen tonight? Tonight Inflation data before market opens. That could provide direction for sure. Expected to increase slightly. Analysts divided, but some how many feel that actually we may go up. High Yield Bonds are being bought while stocks are dropping - a bullish divergence. But one bank said that in this latest drop, dumb money (retail) is buying the dip and smart money is not. Conflicting signals. We can only hope that there is some good news and we make another attempt at 4600 on SP 500. . Will that happen?. Lets hope so. All the best.