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Strategies & Market Trends : TRIPLE TRADES -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (3863)	8/21/2024 7:24:47 AM
From: Bull RidaH	2 Recommendations Recommended By robert b furman yard_man Read Replies (1) \| Respond to of 4396

The current prognosis for these isn't good. LAAC has a trend-based fib ext target of 1.37 from the current 2.56. LAC's + SILI's T.B.F.E. target sub-zero. I'll throw in Albemarle Corp - ALBE for good measure, since they have operations in my hometown. ALBE has an active TBFE target of 46.16, currently trading at 76.55. My guess on the carnage is that 80% of mined lithium is used for automotive & personal electronics batteries, sectors considered economically sensitive to interest rate levels. The FED decided in May of '21 to acquiesce to WEF policy of a GREAT RESET, and they, in cooperation with the Biden Administration, quickly and irrationally raised interest rates to a level which would eventually DESTROY the economy...economically sensitive sectors first. We're now finally seeing a rapid collapse in sales in the industries which utilize batteries, which will leave these lithium miners in dire straits... especially the financially leveraged ones. Meanwhile, lower market adjusted (longer interval) interest rates due to the collapsing economy is propelling the interest rate sensitive stocks higher still, which is leading the key indices higher even while collapsing sales unfold in the automotive and electronics sectors. The final nail in the coffin for these lithium mining companies was when consumers realized the TRUE COST of operating an electric car is actually far greater than ICE vehicles, due to higher electricity rates, battery replacement costs, and expensive as well as inconvenient vehicle maintenance. Heck... i couldn't even talk YOU into one!! <g> The $7,500 tax credit for purchasers was and is the ONLY thing keeping the industry somewhat afloat, and you know who is ready to nix that whole deal.