Aggiesincebirth said:

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Yeah my question kind of revolves around "if the study goes well but the stock doesn't move, are we stuck in limbo for a long time until they start producing?"

Thanks in advance and I know questions like these come up on WWR all the time. Just wondering if the stock doesn't make its move on the study results if we will have to wait a king time for it to move

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Who knows..

But all stocks are subject to market sentiment. Stocks that are traded more heavily and quickly will react to sentiment more harmoniously and will develop more hard and clear paths. Ultimately, once there is enough interest, general market sentiment about the stock is going to take hold. Then the price will go where it's going to go. Catalysts won't be able to send it in a predictable path, because sentiment will have started to build in future expectations.

Right now, WWR doesn't have much sentiment. It's technically a virgin a stock for a company that is at the end of the planning phase and near the beginning of the doing phase. There's no revenue stream, and nobody really knows what it could even look like yet. Therefore, everything is hopes and dreams. It needs a catalyst for interest to develop. Then it will start moving based on market sentiment.

OA has seemed to believe for a year now that late 2021 / early 2022 would be that catalyst. I guess we will find out. There's no action to take other than to keep lowering your basis. We all have our positions. We just wait.

With the Afghanistan cluster **** and the constant media fear porn about the delta variant, expect a lower open tomorrow. The key will be if the market rebounds or the selling intensifies. If anyone is on margin, I'd get off of it. Some headwinds are developing.

China's retail sales growth slows more than expected in July

https://www.cnbc.com/2021/08/16/china-economy-retail-sales-slow-more-than-expected-in-july.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

REI

How did we miss this cup and handle form?



And since it looks like we have indeed formed a bottom, I went ahead and labeled all the resistance areas. Look at the $3.31 line. That was one of our high points after a lower low on the way down. With this cup and handle, we've now bumped our head on it twice. Need to see the EMA's cross back over upward and finally take that level out.



Assuming we can take out the $3.31 level, I plotted out my Elliot Wave extensions going from the Nov 4, 2020 $0.43 low as the beginning of Wave 1, up to the March 16, 2021 $3.36 high as the end of wave 1, and back down to the April 21 $1.85 low for the bottom of wave 2.

Look at how the fib levels line up almost perfectly with some of our key support and resistance levels in the chart above.

So if we can take out $3.31, here's the high probability price path I see it taking. It can definitely alter course and hit some different fibs, but the general path is here. Remember.. timing is trash so don't bother taking note of my time placements here.

Aggiesincebirth said:

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Does Oldarmy still post in here? Thought o read something a month or so back that he wasn't anymore but just wanted to check. Wondering if this feasibility study for WWR is the catalyst for a big move or if that will only be a big move down if the results don't yield positive news.

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Not OA but I've posted this link here before that summarizes short term catalysts well (see snippets below):

https://crystalequityresearch.com/wp-content/uploads/2021/05/WWR-Update-Report-5-19-21.pdf

Happy Monday Mornun!

Its a new week and new opportunity to get one step closer to freedom.

Futures red and early print red in the US
EU red
Asia mostly red



Agree with Prog's post with world issues, Delta variant porn, China sales, OpEx week, etc. makes somewhat of a recipe for some shenanigans.

However, given the way things seem to be lately...until the trend changes its probably buy the dip.

Note Mancini's post previously...he seems to think we are close to a dip.

Tactical trades for me this week...ins and outs and not leaving a lot of risk on from day to day.

Ok bulls and bears.....



Trade wisely!

Guess hitting parked cop cars draws a little attention.

Monday Macros

Treasuries Rally Overnight...Reverse All Gains...Chinese Retail Sales Disappoint

10 year treasuries rallied to 1.245 overnight but gave it all back during London time and now back to 1.28, unchanged from Friday's close... Just as the vigilantes got close to breaking the 10 year early Friday, with a 1.38, on the way to 1.42 support, the consumer confidence plummeted, and 10 years rallied 8 basis into the close... Again the follow through overnight has reversed... We do not think the collapse of the Afghanistan government had much effect on treasuries, but Delta variant remains a concern...and the lack of debt increase discussions are starting to worry some that the Government may shut down in the fall... Still premature, but a concern.

So what does this week bring? FOMC minutes are the most important piece of information this week... Retail Sales are expected to be weak... And Powell is hosting a town hall discussion with educators, we doubt that is the right venue to speak before the Jackson Hole meetings next week..Kaplan speaks on Friday... Pretty clear where he stands... As for Jackson Hole, we see that the ECB President, Laguarde, is not making the trip... While we don't know why, we assume it is Covid related, but whatever it is, it waters down the importance of the meetings... Hawkish, Neutral ,and Dovish... Until Powell and Williams break to the neutral camp, tapering will be the proverbial kick the can down the road...Even though Rosengren has clearly pointed out that QE is raising asset prices, and not helping employment

Delta variant... How important is it to markets?... Clearly it has had a negative effect... While equities achieve new records and the European equities had risen 10 days in a row before today, we question whether it is really effecting spending... Morgan Stanley still thinks the quick rise in Delta variant cases will reverse in just a few weeks, we saw Gottlieb on CNBC, where he said "This wave could be the last for now, I do not think Covid is going to be an epidemic all through the fall and winter"... Another quote from Barron's from CIBC Private Wealth over the weekend, "if you look at the market action last week, it is saying Delta variant is a public health crisis, but not an economic crisis"

Trading equities was lackluster on Friday, where we had the lowest volume of 2021. Vix remains low. In 2021 the average equity was 577 billion a day, from MS, last week it was a paltry 350 billion. Seemingly, dealer gamma near record levels and fervent retail traders willing to buy the dip continue to keep the broader indices afloat.

Bonds and Stocks are sending different messages... Bonds are worried about a slowdown, while Stocks are not...seemingly lately they are correlated... Bonds go up in price, stocks go up in price... It won't last... 10 years today have resistance at 1.22 and support at 1.30, the 200 day moving average, and then 1.36...New issues are expected to be slow this week, with only 10-15 billion ...expect that to be front loaded.


It will be a quiet week, FOMC minutes look to be the big news of the week.