PLS chart to start 2019, page-417

Interesting market depth this morning. We have a significantly higher proportion of Buys versus Sells on the screens at present (14.62m v 3.96m).
Yes, there are 3 bids at $0.50 for 8m units in total (1m, 2m & 5m).
However, the indications are that the buying has started in earnest and we should see some greater interest from some investment houses - including MacBank. I noticed they put out a commodity comment on Friday and there was an interesting quote that has implications for our sector. They state:
"Global car sales remained weak in January, led by China, and you have to dig deep to find any positives. Within this, however, electric vehicle sales continue to outperform expectations."
Then go on to say:
"But a MoM comparison is misleading. January is always a weaker month seasonally due to the expiry of incentives etc. On a YoY basis sales were 80% higher globally, led by a 138% increase in China. Similarly global market share at 2.2% in January 2019 was almost double the 1.2% seen in January 2019.
Which then leads to this mea culpa from one of the crew that brought us the lithium oversupply myth:
 Does this mean our full-year 2019 forecast are already too low? After all we are predicting only a 30% increase in global EV sales this year. Certainly a few more months of Chinese EV sales at these levels would make us think again. But it is far too early to reassess now. January is such an unusual month even YoY comparisons are fraught with danger, and our cautious full-year forecasts are based in large part on an assumption Chinese growth slows as subsidy cuts take effect."
It's pretty clear that these cowboys, along with Morgan Stanley, are beginning to doubt their own lithium demand and supply assumptions.
This should make for interesting market activity over the next few months!!!