Weekly Review U Stocks - 8th Sep 2023
Here is the weekly review figures and charts that I do every week. It is useful only for those interested in trading or those who hold multiple shares and based on performance would like to keep re-balancing as we go. As I have disclosed earlier I do hold a number of U stocks. This is the reason I include a number of other U Stocks in my analysis. In my figures, I also have performances of U stocks for 2021 and 2022 - for those interested in looking at longer term view.
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.Personally something had come up which took up my attention and time and hence was not able to do any posting on Hot Copper for last 10 days or so. So a respite to those who don't like my posts, but I am back to bore others.
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.As we are in a pivotal zone, this week I will do another post and share some of my analysis around where we are with respect to the rise, general sentiment, the pros/cons, short-term/long-term, bottom price, % gain from bottom, market caps. As always, it will just be my views and I could be wrong .
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Please note that all my analysis are from a trading perspective looking at short-term view.
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There are no new additions this week, so my stock list contain 28 stocks.
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How are we going in 2023 - General Markets-
- SP 500 after making a few 52 week highs and crossing 4600 is still in pullback mode, initially made 5% drop, then came up, now again thinking of going down
- At this stage its at crossroads - delicately balanced, but the odds of going down slightly higher than going up in immediate short term
- Upside - another retest of 4600 before getting to 4800 all time high. Many talk of 4550 as key level
- Down side - 4440 first key level, it is toying with that. Many feel a test of 4300 is coming, and more importantly even 4200 is a good possibility
- Overall trend from October is still uptrend. There will be pullbacks. So at high level (those holding longs etc) the uptrend is still intact. Those looking for swing, short-term trades, some volatility may be in place
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What will happen next week - General Markets:
- US markets were slightly green but relatively flat. U stocks slightly higher and Li stocks were down. ASX may have the same trend.
- SP 500 now in real test of another pullback. As long as 4430/40 holds it should be fine. But if not a good chance we may see a play of 4300/4350 shortly
- Mixed lead indicators - more negative than positive. VIX still 14 which is good and bullish. But Yields and Dollar Index strong - so not good. Bitcoin after 31k touch now below 26k and looking overall weak. Bitcoin first made a start to top 31k. SP 500 then followed to 4600. Now Bitcoin is trying to find a bottom, not sure where there is. Many feel SP 500 may then follow this trend of finding a bottom
- Some signs in crack of economy - Banks, Housing in US as well as China is suddenly gripped fears in minds of many
- CPI/PPI data crucial data next week, they will definetly provide direction. And big stocks like Apple because they hold a decent portion of indices - so many watching Apple, NVIDIA which from their highs are also in pullback
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Personally: As I have been saying for a number of weeks, my main play is in Uranium sector along with holding stocks some specific stocks on uptrend. Around 6 weeks back I had said started moving everything to U stocks. Fortunately it has played out well till now with around 30/50% gains in that time. I hope some who read my posts and take some cues from my posting also did well. In the same period I also got out of nearly all my Li stocks including 4 I was holding for quite long on uptrend - AZS/LRS/LLL/DLI, as I felt overall sector is putting pressure, I got 3 right, AZS still going strong and above my sell price.
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Stock/Sector specific Info:
- We are now playing in 4.6/5.9 zone. We gained decent this week, moved from 4.7 to 5.6
- We are reaching our first key resistance around 5.9. In my earlier post I had written that once we cross 4.6 and hold, there is very good chance to go towards 5.9 - that has nearly happened
- Personally I have sold half my stocks in last couple of days. AGE my average was 3.5 sold around 5.6 average - around 60%, and similarly others where I gained between 50/60% - this is normal for me from risk management, trend is up and at this stage its looking good. Happy to buy back higher as still holding a lot, but if some pullback, then I will have some coins, also risk as had put nearly most of my portfolio into U stocks in last 6 weeks or so
- On Friday US U stocks were slightly up, so we may see see the same trend
- U stocks gained 5% this week - 17% up for the year
- BOE/BMN/URNM made a new 52 week high - so leaders making the right move for others to follow
- U future gained %2.25c this week to reach $60.75. So very good last 2 months. Next target to get over around 64 we reached couple of years back
- My views I will put in a separate post a bit later
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Here is the Figures for the Week:
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(20min delay)