Last week I asked - Have we seen the bottom of this phase?.From...

Last week I asked - Have we seen the bottom of this phase?

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From a weekly perspective, a decent gain from 3.7 to4.2 this week, trying to crawl back loss of last week, but actually moving ahead. . Volume, moderate, even though we had an announcement - the big guns are not yet there it seems.

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So what is happening? Playing the macro. Trying to plan for the next rise. But positive play this week. Announcement helped. I still feel most U stocks have U macro as major affect, one of the reasons we were not able to make much gains on announcement. 4.2 has been a key number, and we were not able to cross that. We playing in 3.8/4.6 zone, not surprised to see some play happening at 3.8, but also see it hold. So predictable play till now.

As I wrote last week, I felt CCJ made the bottom previous week. Till now that stands. Many U stocks have not gone for a runner - reason being they are looking for confirmation. When will that happen? When CCJ reaches next level of 45. Till that time, there is a risk we could see some downturn. But, general markets are behaving positively, so odds are in favour of us at this stage.

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Personally I bought more 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. Last week my average was 3.55. I had written I had 40% of what I wanted to buy, and will buy more if stocks are not looking like crashing. I did buy more, mostly higher. My average now 3.65

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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.