Last week I asked - Have we seen the bottom of this phase?.From...

Last week I asked - Have we seen the bottom of this phase?

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From a weekly perspective, a small gain from 1009 to1052 this week, trying to crawl back loss of last week. Volume, normal. But today was the highest rise for the week, and the highest volume. Without being very significant, its still positive.

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So what is happening? Playing the macro. Trying to plan for the next rise. We reached 948 last week. This week minimum was 995. So 5% up. Then another 5% close of this week. So over 10% from its bottom. Although anything can happen, we may have seen the bottom of this phase. Last week I wrote, at least 50/50 chance of having made bottom at 948. This week I feel 90% chance that 948 may stand as bottom of this phase. But anything can happen, so please dyor.

As I wrote last week, I felt CCJ made the bottom previous week. Till now that stands. Many U stocks have not gone for a runner - reason being they are looking for confirmation. When will that happen? When CCJ reaches next level of 45. Till that time, there is a risk we could see some downturn. But, general markets are behaving positively, so odds are in favour of us at this stage.

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Personally I bought more PDN this week. I had exited end of May having written that it may top over there. I was lucky with my call, and it did top there. I have been writing for over 2 months that I will buy around this time, hoping for a bottom. Last week my average was1000. I had written I had 40% of what I wanted to buy, and will buy more if stocks are not looking like crashing. I did buy more, mostly higher. My average now 1010

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So what may happen next week? All depends on U macro. On CCJ. On general markets. Let's hope it's in the right direction. Enjoy your weekend and all the best.