LRS General Discussion, page-16586

Last line of support?

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Since last time I wrote had to exit twice, around break even. First time 20, when I wrote I may exit if it does not look like holding. Next played at 17, another break even, though exited some at 17. 5. For me 15 was last strong line of support.

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Today I picked up fair few at 15. One big lot initially, then 2 more. All sold into. Some big entity looks like getting out, or maybe sector is weak, and many want to be out than in. But it was all sells, nearly. Not sure what is going on, but ominous signs, especially if sector keeps the weak sentiment. Reason I say weak sentiment, is because when coming down from 20, I had 17 in mind. Coming down from 17, I had 15 in mind. Coming down from 15, only one number comes to my mind - 10. So although I bought today, was not feeling very comfortable. So let's see what's in store. A hold of 15 would be good, but we can't dictate, we follow, and if 15 not looking like holding, I may exit and see what's in store.

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So what may happen next week? Much depends on US Li stocks and especially ALB. If it does well, we may be fine. If not, I wouldn't be surprised with more turbulence in ASX Li before they bottom. Getting back over 17 would be first good step. Will that happen? Let's hope so. Enjoy your weekend and all the best.