So, are we back?.Posting onon this general thread after a while....

So, are we back?

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Posting onon this general thread after a while. The price action had limited me to weekly reports, also because I was not holding, but this week was different. As we can all see.

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So a very big play this, both in price action and volume. Something we hadn't seen for over a month. After losing 4 nearly a month back, first time it has regained. And today was special. Till yesterday it could have been a false breakout, but today's trading may put a lot of doubt on detractors - is this the real deal? My gut feel, we still need confirmation. Especially with what has happened over last several months or even couple of years. One week may not define that, so we need confirmation. I know many may be more positive, but at this stage I am cautiously optimistic.

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So what are the factors may be in play? In my last weekly report, I had written that ALB needs to hold 128 for any positivity for the sector. Last 4 days it finished in 130s. Something that it has done after a long time. For me 128 is neutral and 150 is positive. I had written it would be good if ALB moves towards the 40 this week. Not there yet, but nothing much to dislike. That may have helped. Or, there is some news coming soon. Or is it short squeeze? SQM still under 50 though. That needs to go over.

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Personally, anyone reading my posts or weekly report, my last play didn't end well. My average buy was 4.6 and I exited at 4.1 with a loss. But before that was good, from the 4.6 to 6. 9. For me that 3.6 level was the key. Once it looked like holding yesterday I bought at 3.7, and today when 4 was looking like holding, I bought at 4.1. My average 3.9 not very far from my loss sell at 4.1, but I want to play an uptrend. It's looking like one, but let's see.

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So what may happen next week? If there is news of our own, that will take precedent. If we are playing macro, let's hope ALB holds 128, any finish in 130s will be good. Tonight will be a test though based on China trading. But if it can hold 130s and move towards 140, that will bode very well for next week, or at least Monday, and then we can take it from there. For SYA, a number I have written a lot of times, 5.1 is the one to watch. At least for me. Enjoy your weekend and all the best.