ESS Daily Report, page-69

Oh, usual Monday blues?

Yes ESS lost half cent to finish at 49c. Our volume was average, nearly exact as Friday just over 2.5m shares traded. Again, trading was as expected.

ASX Li stocks remained nearly flat, but eased slightly. Of the 73 stocks that I track, average loss was 0.5%. Mostly sideways trading. On Friday Tesla had a big dive, but recovered most of the losses towards the end. US Li stocks are beginning to have a correlation with it from a sentiment perspective, so a rise in Tesla may turn out to be good for us.
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What next:
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On Friday US markets were in green with SP 500 finishing at 3999. ASX today kept the momentum with a gain of around 0.8%. But this rise looked like risk-off - most resource stocks nearly flat or slight gain/loss.
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Personally, I was mostly quite on all fronts except one stock. A US based Lithium stock has been awarded a funding of 700m by US govt, of course subject to conditions. Also, that Li company has pending approvals. But I think the move is very positive, it shows US govt is serious. Similar some buy was seen for U sector. So overall, it is a positive development in general, maybe more for stocks that are based in US. I already held decent stocks before today s mentioned in my diary in weekly report. Today I bought big, average couple of cents before where it finished. I thought, if things don't turn out well, then downside could be 10%, or upto 20% with something very bad. But there is a chance that it could make a big move of say 50%, or even 100% if things turn out well. So the risk-reward I thought was 1 to 5, hence went with it. Lets see, its still early days and we will see how it pans out. There is still risk, so please dyor.
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So what will happen tonight? US markets are closed tonight. Asian markets were mixed. Today ASX resource stocks today were sideways with slight down. Cannot expect anything big tomorrow, but probability says it could be sideways too, but this time on the up side. Will that happen? Lets hope so. All the best