Raring to go?Yes WR1 gained 1.5c to finish on 123. Volume was...

Raring to go?

Yes WR1 gained 1.5c to finish on 123. Volume was not very high, but still decent, just over 2.3m shares traded.

Li macro is on a critical point. It is not yet on a tear, but not panicking either. I have been writing that ALB has to be at least over 128 for us to hope for a good reversal. Yesterday, ALB did well and finished on 131. So at least, once again it has created the hope. It needs to hold here. In the last 1 month, this is the second time it has finished in 130s. Last time, it could not hold for more than a day, hence I mentioned the critical point. So we are getting towards neutral, but to to be positive, ALB should reach close to 150. It may not happen in a day, but if ALB can hold this level, do a bit of churn in 130 s or even high 120s, probability is not bad that it may go towards 150. Some other sectors like Gold, Silver, Health, and IT not doing bad. So we need to get a bit higher and create some FOMO, otherwise less of rotation into the sector can happen. So lets see.

WR1 is doing well. I think one of the best performing Li stock of last 1 week. It has made over 50% gain from its low to high in just 6 trading days. All the charts etc for those who follow, should be very bullish. Some good announcements have helped the cause. Today we reached 128, it took us around 5 months to regain that number, so a lot has happened. But at least we reached there, a lot of other Li stocks still in doldrums, at their lower levels. Numbers that I will be watching is 145 firstly if it goes up, next 170. If it goes down, 118 previously was a number I remember, but needs to hold 112.

Personally I bought back my shares at 121 today. I had mentioned in my last post that 120s will be my next play if it goes higher, or early 90s if it goes lower. The indications are good, at this stage, that it wants to go higher. I was waiting for it to go slightly higher in 120s and then come around 118 level, it did not reach there but touched 119.5. My last two plays was positive, which I feel would be for most who were picking up in 50s/60s or even up to 80s. I will see how the numbers play out, hoping that Li macro stays at least neutral, if not positive, that will give us a chance of continuing the run.

So what may happen tomorrow? We have one more trading day before inflation data in US. Yesterday the indices were very tentative and looking like going anywhere, but it still held the level. Russell 2000 was the best performer, but not very big move. Still, a good sign for commodity and risk-on assets. Tonight we would want ALB to stay in 130s, possibly over 128, possibly close to 140. That will definetly spark some interest tomorrow in the sector and we could see some punters taking position. Will that happen? Lets hope so. All the best.