The ASX dragged us down.Yes, ASX had a red day and with it took...

The ASX dragged us down.

Yes, ASX had a red day and with it took down a lot of stocks. We finished 1.5c lower at 35c. Our volume was good, not as high as yesterday, it was around 5.8m shares. Our VWAP average was also 35c, so a fair finish from trading perspective.

ASX Li stocks were also mostly down. The shares I track, average decline was between 3 to 4%. We declined by 4.11%, so just on average.

Although we did not have a good ending this Friday, but for the week we were still ahead. We started the week on 32c, so we gained 3c for the week on 35c. Although I was hoping that we reach 40s, we did cross it but were not able to hold. The good part is that the volume has come back and now it looks only a matter of time. If we continue as we did this week, I am reasonably confident that we could be finishing in 40s sometime next week.

What next - At this stage dow/asx macro is driving Li sector in general. Then there are localised factor with particular stocks which make them run. Similar to last week, this week too there were some very good news around some Li stocks. We have not had that sort of news or run for quite sometime. I think we are due for one. Lets hope we get one next week. Enjoy your weekend and all the best.