I wrote an enormous post to your comments, unfortunately it was lost in the HC clouds.
almost impossible for me to replicate that now with dinner about to hit the table.
I will try to replicate my post as I’m a huge market watcher and political analyst, I’m a right wing socialist which puts me in a marginal group.
Im all about looking after our suffering people, but i firmly believe half those on welfare don’t give a f* and never want to work. This infuriates me and many others that pay enormous tax.
Back to ASN.
Yes we are getting very close to tax selling as we head to the end of June, it a bitch but happens every year in the two weeks prior.
The lithium sector continues to see selling pressure at this time despite the significant gains in Lithium prices.
As we are all aware the world’s economy’s are in turmoil as we continue to deal with the Ukraine war, inflation issues, cost of living especially interest rate increases as they vigorously increase rates as they see it as the only way to fight inflation.
while lithium prices continue to increase, and I believe they will hit another all time high later this year, lithium stocks continue to succumb to the nature of the market when they should be placed in this basket case.
Prices rising and EV sales up globally around 69% YOY.
They are really trying to tire us out of the market. You all saw the so called analysts forecast last year, lithium 99.5% to fall to 11k right about now! Fricken muppets and masters of manipulation.
current contract pricing is between US$45-60k, they were wrong again, not the first time their commentators have tried to screw retail.
We all know the Chinese masters of manipulation had their fingers in this as it happens every single year. They stoped buying products around December as their inventory already low heading into China NY, they purposely rain their inventory down to like two weeks worth the collapse pricing. Now we are seeing 3-5% increases daily as they scramble to restock and ultimately feed their money hungry plants.
They are smart and greedy, nothing new here.
The other part of my lost post I will try to retrieve tomorrow. It was more related to some of your comments.
Best wishes mate, and appreciated your post.
GLTA.
Disclaimer, post was was generated under the influence of a Friday lunch. Hope it made a little sense?
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