Still playing the macro.. From a weekly perspective, slight gain...

Still playing the macro.

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From a weekly perspective, slight gain from 49 to 52 this week. There was a scare though and made a new 52 week low this week at 42.5. But the bounce in Li stocks stemmed that loss, and let it finish in front, even reaching 58, close to 40% gain from its low.

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So what is happening? Playing the macro. Earlier in the week, it was looking dire for Li sector, so it made a new 52 week low. Then a bounce came. It joined the party, making nearly 40% gain from its low. Now adjusting to the macro. So all macro play at this stage. The macro is so strong, that individual stocks are not able to carve their own path.

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ALB is still down on a weekly basis, though it has to play tonight. Ganfeng made a new low this week at 24.90. On the big rally, it nearly reached 28. But finished today at 25.58, just over 2% from its new low. It's still down 1.5% for the week. So not looking good at this stage. The rally, in hindsight, looks more like a sucker rally now. Let's hope it's not.

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Personally still no play for me here.

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So what may happen next week? We need ALB to reach 106, Ganfeng 35. Till then the volatility may continue. So still no confirmation of bottoming and reversal, but as the rally this week showed, it won't take much if the sentiment changes. Let's hope it happens soon. Enjoy your weekend and all the best.