AGE WEEKLY REPORT, page-195

Weekly Review U Stocks - 20th Oct 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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.I have been distracted by some personal matters last few days and hence not able to do my regular posts, hopefully after few days should be fine.
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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

• This is what I wrote last week, till now it has played out that way "At this stage, most likely scenario, short-term downtrend, test some lower levels and possibly make a bottom in the next week or two - hopefully then rises for the rest of the year"
• Sitting at another critical level above 4200, needs to hold here
• 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 had another drop on Friday, so a soft opening on Monday for us
• Seasonally they say we bottom in October. If seasonality is to play, we may do a bottom soon, maybe end of this week or next
• This is what I wrote last week, till now it is playing out that way - "SP 500 now in choppy mode, needs to hold 4200. More likely could reverse from 4250/4280 - but some believe 4160/4200, where as some believe we are just going to crash 15 to 20%". We lost first level 4250, next 4200 in play
• Some signs in crack of economy - Banks, Housing in US, China, Inflation and now Wars suddenly gripped fears in minds of many
• My gut feel - a good chance to get towards 4170 or so, a number I called a few times recently which represents the drop from neckline of recent height between neckline and head. A good scenario would be to continue to hold 4200. If these two don't hold - very unpredictable and could get nasty

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Personally: My situation is slightly similar to last week. 30% U stocks, 15% Li, 5% rest short play, 50% cash. Bought a bit more U, reduced my Li, mostly playing one Li in slightly big way - it has made massive gains for this year, but I feel it has still got legs (but please dyor as anything can happen and stock is a bit volatile) and hence holding and playing this for last few weeks
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Stock/Sector specific Info:

• We are still playing 4.6 to 5.9 zone. I said last week, if things go bad, we need to hold 4.6 - this week we toyed few times with this number but have held for now
• U stocks lost 1% this week - so three weeks in downturn, may be time to turn around? U stocks now up 1% for the year.
• U future steady at $69 though some platforms showing up
• A lot of gain has happened in the sector, so a bit of consolidation, profit taking may be happening after the monster move. My gut feel is the vertical rise that we saw recently may be difficult to emulate, so it may be choppy, slow grind - there will be moments of euphoria which may be sold, but steady increase possible, subject to general markets as well - if they crash, then who knows. One of the reasons I am holding back on adding more U is because of general markets

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Here is the Figures for the Week:
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