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clock Created with Sketch. 02/05/22
17:38
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Originally posted by dc1234:
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Holding the fort for the resultsASX Li stocks started May in decline. Of the 31 stocks I track, average decline today was between 3 and 4%. It was good to stay flat on a day when asx and Li stocks were in decline. Although any results can bring in lot of anxiety, holding the fort means punters are ready to face the test. Although we would all like to believe that there are no leaks, but it is no secret that whispers do happen. Any possible bad news would have seen a sell off. But then question is - if its otherwise and results are good/decent, why is there no strong buy? One simple reason is that asx as well as Li sector has seen a very bad April, and especially last 2 weeks. So the sentiment is not very great and hence some want to hold back. I am hoping that the sentiment will get better as the week progresses. It would be good to get the results out then on a good sentiment. We could see a strong pre-result buying then What next - As I wrote in the weekly report, I am expecting a good May. But today's destiny was already set on Friday with big dow decline. So today's trading was as expected. Hence, it was good to hold the zone on a decline day. If things have to turn around, we should see that in couple of days. Till then we need to hold strong. The reversal should come along with good Li days, hopefully. All the best.
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But then we have tommorows interest rate hike to digest aswel, it's like getting slapped in the face twice really from today's ugly day to another tomorrow I'm hoping it's priced in
