Another tentative Monday with slight easing in stocks. Will keep...

Another tentative Monday with slight easing in stocks. Will keep it short as mostly covered in Weekly Report

Yes AZL gained 4 pips to finish at 7.5c. Our volume was quite good, highest i nearly a month, just over 20m shares traded. So we got an announcement around Strategic Alliance. For those who have been here for some time, the way we have traded, this news cannot be negative in any way. There can be two things - One Paul feels he needs a professional group to get over this approval process to start with and then carry on. Secondly, may be approval process is more advanced and he feels we are ready to move to next step around exploration etc and is preparing for that. Without knowing the exact situation, and using caution, I am thinking its the former. But surely it will add momentum and may speed up a few things. More in the webinar. Overall positive direction.

ASX Li stocks eased slightly as it does on Mondays. Of the 54 stocks that I track, average loss was around 1%..


What next:

As I was expecting and wrote in the weekly report, ASX resource stocks were again tentative, in the process losing slightly. The ASX indices though were in positive territory, gaining around 0.33%.

SP 500 has reached the critical level, trading above 200 day moving average. It has done 3 days in that vicinity. There is no major economic data tonight, so technicals will drive the market. SP 500 is at critical level where both bears and bulls will not give in easily. But one side has to give in, I feel it may happen either on some economic data, most important is next week, or a slow attrition. So I will not be surprised to see the indices playing in the same range within a percentage or two for few days. But many lead indicators are doing well. There is a chance bulls may seize this opportunity and will make a big move. Will that happen? Lets hope so. All the best.