2 day profit of 17% taken.
Among the global stocks and commodities that stand to benefit from this (if it continues)…
…one speculative position I picked up yesterday is doing well so far. It’s old friend Lithium Americas (LAC), possibly putting in a double bottom.
I like the fact that senior Lithiums SQM and ALB are rallying hard and as of yesterday, LAC was a laggard. In fact, in yesterday’s NFTRH Trade Log notes I wrote this…
Chase former successful Lithium speculation LAC a bit today. But it’s just above long-term support @ 3.50 to 4, which was the buy area of the previous trade in 2017. Larger Lithiums SQM & ALB are rallying but LAC’s symbol should be LAG.
Today it caught on.
What I also like is that the weekly chart shows this potential low coming right at long-term support which, as the Trade Log noted, was the area of last year’s buy for a very successful trade. Other notables are the break of a severe downtrend line and some good up volume over the last few weeks.
Insert here the disclaimer that I’ve already bought 8% lower and that it is a speculative situation. It’s really just another way of illustrating the anti-USD trade, as an old watch list item probed support and I realized that the outlier commodities like Lithium and REE might gain a temporary bid along with the rest of the anti-USD world.
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