And the uncertainity creating fear continuesYes ESS lost 1c to...

And the uncertainity creating fear continues

Yes ESS lost 1c to finish on 35.5c. Our volume was slightly higher than other days, around 4.2m shares traded.

ASX Li stocks were also on slight decline. Of the 43 stocks that I track, average decline was 1.5%.

Overnight US Li stocks also were on the losing side. The ETF of LIT lost around 3.5%, other stocks between 3 to 5%. ASX Li stocks did slightly better than US stocks.

What next -

Yesterday I had mentioned that the most probable US result would be green, may be slight green. Although US Indices wavered into red and green territory, but ultimately it did finish on slight green as I had expected.

So what happened today? We started weak, which was more an indication of indecision which leads to slight decline. The ASX indices were playing around 0.5 to 1% decline though out the day, with stocks slightly weak. But something happened in the last half an hour or so, and ultimately ASX indices finished nearly 2% down. Not sure what that was. Some rebalancing, fear of bad US night, etc.

Although couple of positive results came in, like Germany inflation below expectation and China manufacturing increase. But other data are still looking pretty dismal. Majority of analysts feel we may go down before we go up. But some are hopeful, lets see.

As I have mentioned in last few weeks, I am travelling light. Not getting confidence, waiting for US CPI figures or general market improvement - am close to 50% cash now, waiting for 1 good signal which is sustained, but have not found anything for a number of weeks now.

So what will happen tonight? Based on how the market and DOW has traded for last few weeks, probability is for a red. If there are no new information - it should be medium red. Tonight US will release Personal Consumption Index - which will give hint of CPI. Also Personal Income and Spend, UK and Canada GDP growth and couple of other smaller figures. What can stop the red? If there is some good news. Germany CPI and China manufacturing has come in positive, but ASX ignored it. Will DOW do the same? But if the news is not good DOW may do its wild jungle dance again. But lets hope US markets react positively to couple of positive news that has come, and other data that comes out tonight is positive. All the best.