Share
123 Posts.
lightbulb Created with Sketch. 47
clock Created with Sketch. 21/10/22
01:02
Share
Originally posted by dc1234:
↑
Is the bounce still in play? Yes MLS lost 2 pips to finish on 4.1c. Our volume was low but more than last few day, just over 3.1m shares traded. ASX Li stocks declined with the indices. Of the 54 stocks that I track, average decline was 2%. Overnight US Li stocks bucket the indices and most of the Li stocks were in green, average increase of 2%. ASX Li punters could not match them today. What next - Yesterday US markets did not have a good day. SP 500 fell around 0.7%. ASX followed suit and declined by over 1%. .If markets continue to fall, then there is a chance that last Thursday's low of 3491 could be breached and either a new low around 3400 or even 3250 could come into play. There is still some believe that last Thursday's low could be the low market was seeking for this period, its still probable but lost some odds yesterday. Personally I was hoping for a play of 3800 yesterday and was disappointed it did not happen. Just to play safe I started going on a bit defensive. Next day or so may provide more direction if Scenario 1 I mentioned yesterday is in play - the down movement. Other thing to remember is that Fridays have been very bad days in US markets. I think 9 of the last 11 Fridays, the US indices have fallen over 1%, with bigger declines as well. Lot of people don't want to hold for a Friday now, something to keep in mind for tomorrow's trading - there is always a chance though we could have a big rally. So what will happen tonight? US Futures no clear direction as of now. Asian markets largely green, close to 1% fall in many places. Volatility index VIX sitting at 30.76 - gaining a bit yesterday. Anything over 30 a volatile market can be expected. Cryptos still playing dumb - Bitcoin just over 19k. Tonight more earnings report - Tesla had decent results bit is being punished - market wanted more. SP 500 needs to be above 3675 to keep up momentum, otherwise a low 3600 could be in play in short term. For an upside, its important to get towards 3800. It did not happen, but in a volatile/unpredictable market anything can happen. So will we cross 3750 and make a move towards 3800? Lets hope so. All the best.
Expand
Is it just me or does this guy just dribble irrelevant crap on this thread? Nothing related to MLS. If you want MLS to move, you need a full time CEO or MD, someone that will put in 110%, until then JdP will get what he wants, when he wants, always and forever!
