Chart, page-533

Yes, Li stocks did not do well today.

A good selective pick up from my post from yesterday though.

I had written a few other things as well -

• but its still early days and there is no confirmation as yet.
• There has been a gain of nearly 50% from the recent low it made at 36.5. Will it continue on its parabolic run or will it do some consolidation, back test etc before the next leg?
• So I will not be surprised to see some consolidation, but will follow price action.
• Personally I did take some profits

So as you can, there were a few things I had mentioned where someone may read as if we may do back test and consolidation. It does not always happen, but can.

Also, at this stage, my statement is still valid, it may not be tomorrow or in near future, but currently it is. WC8 36.5 low/47 current, LRS 12.5 low/16.5 current, PMT 61.5 low/82 current, WR1 51.5 low/61.5 current - and so on. That is today. On Friday they were higher when I made the statement. So stocks are coming of bottoms. Whether they will go back and make fresh lows, we don't know.

Although we all want our stocks to go up every day, sometimes it does not happen that way. Li sector/macro/sentiment are still towards the lowest level of over 1 year. Even if rebounds happen, it may not be parabolic - mostly could be 2 steps forward, 1 step back. But the bottom line is, nobody knows what's going to happen. We can only hope. Our individual risk/reward will determine if one wants to be in this sector or not. When I write something, I am not predicting anything - I am just stating where we are. Hope you understand my statement and posts in that context. But I can understand your feeling. After a very strong run, today it was looking weak, but it was not a good Li day today. Tomorrow depends overnight on US Li stocks - if they do well, ASX Li could also do well tomorrow. Lets see what's in store. All the best.