AZL General Discussion, page-6932

Oh, what a forgetful day

.

Yes, we lost 2c to finish on 19c. Our volume was again very big, same as last 2 days, around 159m shares traded. Third consecutive day we were in the top 10 ASX shares traded by volume. Keeping us company from last couple of days were usual suspects - SYA, AVL, 88E, LRS etc

.

ASX lithium stocks has second day of 5% average decline of stocks I track.

.

It sseems clear Lithium and other commodities are cooling down, maybe for a correction, since it has run very hot last few weeks. Not sure where the bottom is, before everyone thinks it's a good buy and jumps in to create a reversal.

.

Its unfortunate that right when we were rising, we are caught in this whirlpool. If we had our rise last week, we may have run much ahead before we faced the storm. But that is not to be, so we have to face the market.

.

Personally, I did buy fair amount on 18.5, but mostly 19c. On Monday I had reached my target of 50% gain of my trading shares from 16c, so had let go a fair few. Buying those back. Have still kept some ammo for tomorrow, third day is hopefully a turnaround, later on the day or fourth day. Let's see. I am hoping to sell them for around 50% gain in a few weeks, around my higher target trading zone of 29c, hopefully. The way we are getting beaten, it looks too far away, but I know, once the sentiment changes, we could see a fast move. Just my thoughts, I could be wrong, so please check for yourself.

.

What next - So tomorrow we will have 185m shares bought cheaply at 12.5c come to market. On the weekend report, I had made a statement around this event. I had said there may be some softening and opportunity to buy the dip. At that time I had thought we would be mid 20s, which normally we should have been there, except for this correction happening. So what happens tomorrow - Difficult to predict as these events and situations are unique in itself. Will there be profit taking or do we have sticky hands. My gut feel - just like yesterday I said, we may have a uncertain phase, some sell, but I feel it will be bought strongly if it falls any fair amount. Can't say for tomorrow, but my gut feel is that by Friday we will be ahead of today. How much - I would like to have a 22c plus so that we get into the next trading zone of 22 to 29c. That will also depend on how the correction has happened. I usually give it 3 days, so hopefully we should see an end tomorrow or on Friday. Honestly, I am more concerned about Li stock losing steam than CR shares because I know CR shares will be easily bought. But all this is my thinking, everyone is playing with their own money, so please check for yourself. All the best.