Hi SeeTheWorld, Welcome! I particularly liked the part in your post where you mentioned Santos going from $4-$7.50, and it would have been very exciting for you to have seen a gain like that.
I don’t know about anyone else, but I’m getting ready for a near term rally. The reason I have for saying this is, that we have had a few Santa or end of year rallies, over the past few years that I have been holding, and with the positive news about to be released from management over the course of the quarter, then, who knows what this will mean for the share price over the term of the next several months.
I just cast an observer’s eye over the GXY shortman site to get an idea of how the shorts are travelling. The overall percentage does appear to be dropping (steps backwards and forwards). Who knows when, how, or how long these short positions will take to unwind. It will be great to be watching when the real momentum in the action starts to takes a hold, with some stronger volumes on that front.
The good thing to remember here, is that the sentiment for lithium and battery materials over the long term remains positive, and it is only the short term micro/macro/ global events, and the rather bleak analyst/brokers reporting of the sector, which shorters use to full advantage, that continues to confuse and blindside some share investors, and cause real fear and concern about investing in the sector.
I see October as being a very good time for buying beaten down, unloved and undervalued stocks with strong prospects, and as has been mentioned several times on the Twit site, it is also end of financial year in the US, with tax loss selling, write-offs, write-downs etc, and that this period continues through until the 25th October.
It won’t be long until we are through with this scary/hairy month, and we should start to see investor buying sentiment and enthusiasm take up the baton again in November, and continue over the next several months.
There are bound to be more bumps before things improve, but it seems that our sharemarket finished the week on a positive note. GL
GXY Price at posting:
$2.37 Sentiment: Buy Disclosure: Held
