PLS chart, page-19231

Hi Nottaw

I think with your statement

"So , imo right now charts are probably less useful for clues than normal".

I believe that the reverse is true. The clues are so big that they are easily overlooked when focussing in on the small stuff.

The markets seem to have the memory of a goldfish.

Currently the S&P500 is down 10% from it's recent peak, Take a look at the chart below and see what happened in 2020 and 2022 (there was an earlier one in 2018 not on this chart). Significant corrections to say the least but not like some of the majors, 1987, Dotcom or the GFC . Notice in 2022 I included the first stage downward of 13% before the bounce (possibly the work of the Plug Protection Team) then it got to a 27% total drop.

It seems that the market goldfish take just over a year or so to swim around the bowl and forget.

I am just aware that it could happen, not saying it going to happen.

I managed to dodge the GFC by bailing out of the markets in Feb 2008, for a series of reasons including the charts. Easily the my smartest ever investment decision. So I am taking some corrective action, not bailing out, just making adjustments, because as you can see from the charts, even after a 25% significant correction markets can recover,

That's one of the reasons for my free carry strategy to just hold onto the stock through these corrections. Easy to do when your holding cost you nothing.

I was looking at totally free carrying PLS with a final buy under $4. Because of the charts I let 3.72 pass me by, the same with 3.58. A few weeks ago I set a lower target to finally buy. Then this China graphite news struck. Looking at the world markets and the China issue I am going to let time pass by before taking any action.

I believe that December won't begin with a big splash but dribbles. A destined export load of graphite to a US customer is just delayed pending approval, red tape. Could start with a handful of loads to a handful of customers. Not a ban, just delayed.

The eventual response by the US could cause a big splash.

Market are about to open. Both ALB and TSLA were down 5% overnight so the PLS opening could prove interesting.

All the above is just my opinions of how I read the current market, so DYOR.

We shall see?

cheers Lies