General Discussion AGY, page-7766

A few thoughts.

1) S&P 500 dropping to 3400 would bring it to its pre-COVID level. The ASX200 is already 3% below its pre-COVID level and was as low as 11% below back at the end of June prior to the recent rally. I'm sure we will fall alongside the S&P but I don't think Aussie stocks are as overvalued as the US market and that might provide some insolation. I'm holding cash, waiting for the market to crap itself again, to top up on some of my positions.

2) Macquarie just released a strong upgrade of its price forecast for hydroxide and carbonate. If history is anything to go by, its often a game of catch up as the demand side is underestimated and the supply side overestimated. Importantly, the price forecast has very strong prices going out to 2025, rather than starting to fall this year. Hopefully by that time, the macro-economic climate will improve.