AGE WEEKLY REPORT, page-269

Have we seen the bottom of this phase?

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From a weekly perspective, a small drop from 4 to3.7 this week. Volume, normal.

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So what is happening? Playing the macro. Trying to find the bottom. We reached 3.4 most of the time this week. I had written, this range play is 3.3 to 3.8. It tried today to get over 3.8, but its a significant number, macro pressure was not enought to get over that. But macro was good enough to not do a 3.4 today, after 4 days. Will 3.4 be the bottom for this phase? Not sure, but I feel there is at least 50/50 chance. Its also our new 52 week low. I have been writing that small and mid stocks have not deserved what they got. When stocks were rising, stocks like BOE, PDN, DYL, SLX, BMN, etc made the most gains. Mid level stocks like AGE, AEE, EL8 etc moderate. Small stocks no gain. But when markets came down, all went down. Not fair. Last week I wrote that there is a chance of 50% retrace for big stocks which made most gains. Big stocks like BMN, BOE, LOT dropped over 50%. Lot of mid and small stocks much over 50%. PDN/DYL close to 50%. So in the range.
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I was writing for some time that we may top end of May +/-. I have been writing for over 2 months that we may bottom end of July +/-. Last week I wrote there is a good chance we may bottom this week. Good chance CCJ may bottom this week. It reached 35, a high it reached coming from 20s, it acted as resistance this week. So odds are not bad, but let's see. I am a very small player making predictions, I could be wrong. There are big players on you tube so please check with their analysis.

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Personally I bought AGE this week. I had exited end of May having written that it may top over there. I was lucky with my call, and it did top there. I have been writing for over 2 months that I will buy around this time, hoping for a bottom. I did buy this week, my average is 3.55, bought at 3.5 and 3.6,, haven't picked the bottom, as I feel its not easy to pick bottom. I feel it should be in a range one is comfortable. And perhaps stagger the buy. I have bought 40%of what I want to buy. If it looks like going in the right direction, I may buy the rest next week. We have to get over 3.8, next play 4.6.

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So what may happen next week? All depends on U macro. On CCJ. On general markets. Let's hope it's in the right direction. Enjoy your weekend and all the best.