Quiet Contrarian. Ep54: Trades for April 2024

Sorry for not posting in March. I didn’t make any trades, and have been going through one of those patches where life just hurls things at you. Things have settled a bit and I should be back on schedule. Still not much action this month, but I made one trade.

Sells

IGO Ltd – IGO.ASX – They have been punished in their Li transition with the price of the commodity falling off through this financial year. It seems to have found a bottom, and has levelled out in the last month or so, but it’s not pretty. I sold based on the Li forecasts seeming to suggest ongoing softness in the price, with a lack of clarity around when it will rebound (may be up to 2026), and I think the price rallied a little since the 1H results (think people were positively surprised, but my belief is that this was a lag due to the first quarter of the year having high Li prices, 2H will be much worse). But I may have been wrong as the price rallied after the 3Q results. I like the company, but not the macro environment. Will continue to keep an eye on them and see if I can find new places to buy in.