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08/08/19
18:32
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Originally posted by dmaivn:
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I observed since 10am opening, all lithium stocks look lame until the tide turned on the ASX as it moved from negative into positive. The volumes look normal too. I think it's just that trades hoped it was near term bottom and they bought. Perhaps some shorts also covered too as they saw little to gain holding. Tomorrow is Friday. I don't see any positive sign about US and China trade war. The US markets are still too high and should correct a lot more. We probably will see a classic early morning mild pop and lithium stocks will drop due to profit taking and swing traders taking some chips off the table for the weekend rest. My take is that if US markets looked poor over night, any early pop tomorrow would be the sell signal and one could buy back at end of the day for cheaper prices. There is no fear of missing out here.
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Not wanting to give advice @dmaivn , but the overnight action in the US should provide a guide as to whether sentiment towards Li is starting to turn. Look at Livent, ALB and SQM. LIT not such a good guide as it includes TSLA and battery makers.