Are we done with selling?.
Yes, from a weekly perspective, AZL down from 2.1 to 1.8. Couple of decent volume days of sell.
.
So with tax selling finishing today, are we done with the sell or we will see more next week? Not sure. Many who may sold recently for tax purposes, may have to wait to buy. So buy pressure will suddenly not come. But the sell pressure will decrease. So, theoretically we should bottom around here, but anything can happen, especially with the way Li macro is playing, so please dyor.
.
Personally, I wrote couple of days back that I had bought at 1.8, half of what I played out in mid 2s. I was waiting at 1.7 for a fill, but most of the play happened around 1.8, so I have some unfinished business to take care next week. I wouldn't be surprised to see one last sell down, but happy to buy higher. I hold a fair few. My heads average currently at 2.3, oppies at 0.55. Recent sell and buy back has slightly reduced my average, but still down a fair way.
.
Lots of lambs who are getting slaughtered in the stocks they hold, come around wearing some lion clothes, acting as lions. But alas, lambs will remain lambs. It's funny though, how they come here to escape the misery they are facing. We should be considerate towards them as their situation is so hopeless. I still wish them well.
.
So what may happen next week? Li macro still dodgy. We may need some help, our own announcements. Number wise, key will be to get to 2.5, before that cross 2.1. I have a feeling in next few weeks, we may see all that happening. Odds still favor us in medium term. We need some big push, couple of days. But before that possible one more scare. So let's see. Enjoy your weekend and all the best.
(20min delay)