Banter and General Comments, page-6529

I got out today. For the past week, the ASX rose strongly and all we got from GXY was a little quick pop early in the morning and it quickly fizzled out and even went into the red for a while. While the downside risk is probably not very high, the upside chance depends solely on a hope of a takeover bid. In the near term GXY is not going to be able to get much development going looking at how slow mining setup takes from design to production.

So, a small loss it is. It cut my losses a fair bit as it ran from 1.45 - 1.65. I am not going to let GXY eat further into my profit from other stocks. In fact, I think it's time to unload all and rebuild the portfolio now knowing the crazy risk in US market, US China trade war and the coming profit taking on ASX after this recent sort of a blind run to highest ever level. In the next 4-5 weeks there should be at least a mini blood bath on the ASX and that would be time to buy. Hopefully I can get back into GXY at around 10% lower. I feel that lithium stocks are going to be stuck at this level for a while. Bulls and bears are staring at one another.

Gook luck to the long. I am looking for a chance to come back into GXY. I would rather put money to work than parking it for years on speculative stocks.