WHEN IS PP?, page-127

PMT is having its biggest test now. On the back of a very weak ASX Li play. Its trying to hold here. Will it?
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PMT is now playing weak for few weeks. It made its low in September, like other Li stocks at 34. Then had a run up to 49.5. Then lost 50% and reached 24. Now trying to recover. Last few days trying to play strong, is there something? Tough times coming. What can help, besides ASX Li macro play? Not sure.
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This is what I wrote in my Weekly Report for Li sector on SYA thread, anyone wanting to know more about how 90 Li stocks have tracked, general market behaviour, other sectors, please look at my other posts as I post the Weekly Report on one thread.
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• • Lithium Sector overview - ASX Lithium stocks are in a strife. Most Li stocks made lows in early September. Then there was a revival. Most Li stocks gained 40 to 60%. It looked like we may be back. In last few weeks, all have been given away. Nearly. Most stocks have now breached and gone below the lows of early September. So a very, very concerning stage now for ASX Li stocks
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  • Chinese Li stocks still doing great. They also made lows in early September. They also started recovering. They also gained between 40 to 60%. But they did something differently to ASX Li stocks. They have kept the gains, most of it. Ganfeng on Friday was above 60% of its lows, Tianqi above 50% of its lows
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  • US Li stock still doing all right. They also made lows in early September. They also started gaining, around 40 to 60%. ALB on Friday was around 45% above its low. Other US Li stock not doing that great, but ALB the flag bearer is. So US Li stocks have also played differently to ASX Li stocks. They have kept the gains. .
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  • Why is this discrepancy/divergence happening? Not sure. Will it go away? Does ASX Li stocks become more attractive now, because if they were to do catch-up, they could do higher gains? Or is ASX Li stocks indicating, the run by US and Chinese Li stocks will not be maintained and they will come down? Or this is the new play - ASX Punters now have to deal with this, a lot may be driven by shorters as well..
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  • This divergence by itself, which is few weeks old in building, may not have been concerning. But this is what has happened to ASX Uranium stocks. It started in August. I initially thought that divergence is opportunity, ASX U are undervalued and gains could be more here. But it continued. And continued. Now its 4 months, and divergence is getting bigger rather than smaller. That sector under the shorters grip too. Is that the only reason? Or ASX punters have become too risk averse?