I think a lot of people have the same question in mind. 20% rise in 2 days is a good return for people that were buying at the low $1s and given the market I think seamay is right. Some are happy to lock in the profits just in time for xmas.
Personally, I think this will slowly increase but will have volatility. As the SP gets higher, more and more people will start to weigh up the benefits of holding. I think this will be a large factor as to why this won't go on a parabolic run before the news drops. We have been beaten down for too long to not have people tempted for an early exit.
For me, I threw everything in the kitty litter at open yesterday because I believe that given the sentiment, when the MRE drops it will create a giant pump.I think there are plenty of Li holders with powder on the sidelines or who are willing to liquid other holdings to jump onto a rise.
Think this is what has driven the likes of LLI to $1, WC8 to 1.3 Bill MC, TG6 to $1.20 and LRS to a 1 billion MC. For those heavily invested in the Li space, most will be heavily in the red this year so any that goes on runs will look highly attractive.
I believe that inversely to most here, once the MRE drops we will get a more substantial rise for this reason. I will also say though, that these rises do come back down to earth. For those examples provided LLI down to 33c, WC8 down to 880MC, TG6 to 75c and LRS down to 500MC
So if you are trading the rise, please make sure you have a plan in place otherwise you can get heavily burnt.
Only time will tell but only 14 trading days left in the month GLTAH
(20min delay)