Originally posted by yanlin
Yes, there will always be resistance along the way. They will push hard to halt the forward progress and sacrifice a few decent parcels to try to encourage more long selling. We will have to deal with the recent "depressed" longs that will take money off the table as soon as the price covers their initial costs.
Given the recent weight of selling (from various sources in addition to shorts - eg Global X Li Fund), we are likely to see an equally long and strong wave of buying to be driven by index fund managers, potential offtake partners, FOMO investors and "revitalised" institutions.
Sit back and enjoy the ride.
yani said, "
We will have to deal with the recent "depressed" longs that will take money off the table as soon as the price covers their initial costs."
Let me reassure you 'yani' IMHO the only GXY ".....
longs that will take money off the table as soon as the price covers their initial costs...." aren't "
depressed" but simply
truly impatient fools who utterly deserve to lose all of the stellar profits that this stock will provide the more patient among us.
All, 'markets' work upon the simple laws of supply, and demand, and so, if the global
demand for Lithium is now rising exponentially, why on earth, would anyone with even a smidgen of grey matter between their ears, be now, lining up and falling over themselves to "give" away their own GXY shares to the ever lengthening lineup, of ever increasingly desperate "buyers" at current bargain basement prices...???
Let them ...pay...for my foresight, and my patience, is my own motto.
