Well, well - is tomorrow being set up for a run?Yes MLS gained 3...

Well, well - is tomorrow being set up for a run?

Yes MLS gained 3 pips to finish on 5.3c. Our volume was not very high as per our standard, but similar in to last week or so, around 3.3m shares traded. I bought 2 parcels of MLS today at 4.8 and 5.2c.

ASX Li stocks were also in happy mood. Of the 43 stocks that I track, average gain was 4%. After a gain of just over 1% yesterday, after a long time some back to back forward movement.

What next -

As I said yesterday, it will be difficult for ASX indices to do another 1% on the back of 1% gain yesterday. So ASX gained around 0.25% only, and as I had expected.

But something was in the wind. Although ASX indices were not going up, there was a sense of something coming up. Although stocks did not make a lot of gains, but there was a lot of positivity.

RBA raised the interest rate by 0.5%. As I had said yesterday, 0.5% was expected, and if we are in the expected zone, we may not see a significant change in market conditions. And it played accordingly.

So I bought a lot of shares today which I am holding. Its nearly in a month that I have bought shares and held (Majority of time have day traded, occasionally held for very small period). I have been saying that I am being very conservative and I was playing safe. But I let myself go today. Why? When I woke up in the morning, I got 2 indicators. One US Futures was up, DOW by around 200 points. It doesn't mean much - the futures. DOW has gone reverse multiple times in last few weeks. But still it was positive. Secondly, cryptos were up. Bitcoin was struggling to hold 19k on the weekend. Today in the morning when I saw, it was past 20k. Although not reliable, cryptos have struggled and they get a sense of market first I feel. I felt we may get a bounce, although I am not sure its a reversal. I did most of my buying on open or within half an hour. Rest I bought during the day as the feeling of the bounce started getting better. Wish me luck guys, after a debacle last couple of months, we all need some luck to recoup something.

So what will happen tonight? Very difficult to say as US indices have been very unpredictable. Also they do wild swings on many days - 400 points up, 400 points down - so difficult to say where it will end. My gut feel is that we will not get a big red. There is 50/50 chance of either sideway (slight red/green) or big green. The recession fears etc are still there. But after enjoying the long weekend, are US punters in in a good positive mood? Lets hope so. All the best.