Okay, well, Hammer has got me engaged now. Trading is a thing, and while macro is my biggest thing, I like to do this thing on occasion as well. Why should he have all the fun?
Indeed, I did this thing on Wednesday in this now public NFTRH+ update on two Lithium companies, Lithium Americas (LAC) and Standard Lithium (SLI).
While LAC is positive since the update, SLI did this today. Doink, one bull flag busted. Here is the original detail that accompanied the chart:
Then I looked at fellow Li watch list item, SLI (daily), and liked it as well, from a bottom feeder’s TA perspective. It has a break above the moving averages on volume (and on US political news regarding certain Li companies) and is bull flagging back down to the support at the SMA 50 area (1.30-1.38).
Another that is at a technical buying opportunity if you have fundamental reason to be involved. Stop to suit (tight to loose) below 1.30.
Also from the update:
I have not bought either of these and will be heading out of my office shortly. So I’d likely do nothing until after FOMC, if I do anything at all.
I did not buy SLI because I cannot personally buy every good looking chart that comes up. But it’s a service for subscribers consideration, and not really about me. I am excited thinking that maybe Hammer and I can forge a new avenue under the NFTRH++ banner. Easy now, these things take time if they’re going to be done right, and I am the boring macro guy after all.
NFTRH+ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
