My first post here..
Have been playing with WC8 for months. Price action has been so strong that many may have played. This is my fourth play here
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I bought again this week in last couple of days. My average buy price is 42, so on the losing side with today's finish.
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So why did I buy? Last few months I am only playing with Uranium stocks. I exited all my Lithium stocks long time back, only doing short term trades,. There was a time I used to have at least 20 Li stocks. I do weekly report across 75 Li stocks. I could see the trend months back and exited nearly all. But I just wanted to diversify slightly from U stocks, and if there was one Li stock I wanted to play was this. Hence I am here.
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I am not a fundamental guy, more following price action. I was waiting for a retrace from early 50s hence I bought.
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But I will like to call out this stock is not for faint hearted. It could do wild swings. Li sector is on decline. It is close to 300m cap, so may think it needs more confirmation before going up. So at a very tricky point.
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I will exit at 10% loss, somewhere around 38 if it drops and then wait for news or price action, otherwise I will continue to hold.
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There is talk of CR, more results etc. That may drive price action. But I feel some are accumulating, though I could be wrong. One reason is that they held price above 40.
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Lets see how it pans out. It has already made huge percent gains for the year, so many feel it has already given the best. But if it turns out like another AZS, this could be the beginning. All the best.
(20min delay)