The Lithium Mania 3 Days Later

Oh if it were always that easy. You take your highly profitable stock (LACDF/LAC.TO), look it square in the eye and say “you sir, are being pumped by momos and speed freaks; therefore I must sell you”. No, all too often when I sell a bottle rocket that I think has gone too high it goes significantly higher still before flame out. That’s the way greedy and desperate momentum works.

Not so this time with Lithium. 3 days ago we called it a mania, and sold out.

Da boyz pumped it and den 3 days ago da boyz started dumpin’ it. Here’s the ETF, which is not a pure play.

lithium fund, lit

If this keeps up I may not lack LAC for much longer. Here’s the Lithium company that is partnered with SQM, which I sold.

lithium americas

SQM, not a pure play, got the memo as well.

sqm

So by my eye we have the Crypto bubble blowing out and the Lithium mania taking a hard hit. I had seen each of these things as manifestations of a late stage market and so, drawing a conclusion of sorts, I think the Q4 market correction view is aided when the darlings of casino patrons start cracking. Why, even the REEs are starting to come off the highs.

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