I am cautiously optimistic when I look at the market action last night in the US and ASX today. I no longer see the pattern of going up early and then selling down badly later. Today, the banks and miners keep going slowly and steadily higher into late trading. Hopefully, the bottom is in or nearly in. They try to avoid the GFC this time so central banks around the world started to ease the situation with more liquidity. We are not out of the woods yet. It is still time to be cautious and buy more very slowly. We will then see FOMO, bottom picking and then short squeeze and finally topping up with a pump and dump game, and then the cycle starts again with taking profit and short selling to drive it down sharply again. It's a long way off to the next shorting game. They need to finish the current one first so we have another 6 months or 8 months ahead to hold on to LYC.
LYC Price at posting:
$6.43 Sentiment: None Disclosure: Held
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