Originally posted by fnbig1
Unfortunately we are not out of the woods yet. GXY briefly broke out of it's down trend at $2.85 (albeit only by a couple of cents) as did ALB / poking it's head above its most recent high. These could have been fake outs. Unfortunately, there doesn't seem to be any meaningful evidence that the sector has broken it's downtrend. Perhaps this is why the shorters haven't eased off that much.
We have some good news on the way. I would like to think that GXY will carve out a mega deal that shines a light on the sector demonstrating the value EV market participants are putting on lithium producers and that this GXY JV / offtake deal could be the catalyst for the sector turning around.
On the flip side, I am also preparing myself that the powerful forces against us: big oil, shorters, China government, are not done with us yet. This industry wide downtrend could continue for a bit longer and even if we deliver great news (i.e: POSCO), that this could have little effect on the share price. If this occurs, I will be keeping some powder dry and add to my position.
The last week or so has shown that when GXY is ready to fly, that it is going to be fast and furious!
AIMO, GLTA!
fnbig1 said, "
On the flip side, I am also preparing myself that the powerful forces against us: big oil, shorters, China government, are not done with us yet. This industry wide downtrend could continue for a bit longer and even if we deliver great news (i.e: POSCO), that this could have little effect on the share price. If this occurs, I will be keeping some powder dry and add to my position."
And 'fnbig' don't also forget that, as Max Schubert said, ...patience...pays...DIVIDENDS...!
