Getting ready to moveYes, GTR stayed flat today on 1.6c. The...

Getting ready to move

Yes, GTR stayed flat today on 1.6c. The volume was lower than yesterday, just under 10m shares traded.

ASX U stocks look like shedding the inertia. But the movement is still very lethargic. Of the 19 stocks I track, average gain was around 1.5%.

U Future decline below $50 after recent high. Yesterday it declined by 1.15 to finish on $49.90. As is evident and what I have been calling out - this is no reflection of demand/supply. Demand is continuously increasing but spot price is in a world of its own. The only reason it becomes important and significant is that we do not have very good figures of supply/demand. We desperately try to get something out from the spot price as a proxy for supply/demand. If the U stocks recover, there is a good chance spot price will recover as well. But to fall below 50 just shows how volatile the sector is.

What next - We are slowly getting traction. Making small gains. Bleeding has stopped. The stocks want to move but still have the overhang of recent drop. Fear is not completely gone. But things are improving. I feel we are on the right track. Another few days like this and suddenly one day it will be boom - we are back. As long as US markets don't tank, even slight decline is fine, green much better, we will get there in few days. Lets hope so. All the best.