Weekly Review U Stocks - 24th Jun 2022Here is the weekly review...

Weekly Review U Stocks - 24th Jun 2022

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.
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Please note that all my analysis are from a trading perspective looking at short-term view.
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This week there is no Diary. I am adjusting my portfolio due to two reasons - first and mainly around end of finance year and secondly volatility that is happening in the markets. So having a lot of changes in my portfolio - one planned (EOFY) and second unplanned (volatility). As this is specific to my situation, I thought I will hold on sharing that for now. Hopefully back soon.
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There are no new additions this week. So the list contains 19 stocks.
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Something to keep in mind this week:

• Stocks are in constant decline after reaching new highs in April, with another decline this week. Many stocks made their yearly lows
• The decline was very steep this week with most stocks losing around 15%, average decline for week was 10%. So now two consecutive weeks of similar pattern and similar level of decline. Last week average decline was 11%
• Many stocks have lost 60-75% from their recent highs. Its also true for US stocks. Many stocks have to rise around 120-150%% from here to recent highs
• U Future has dropped from $64.50 to $48.45. Last week it was $47.85 so a gain of 60c for the week.
• The reason U Spot price is important because we don't have good demand/supply figures, so it acts as proxy. Supply/demand is the biggest factor that will drive the bull run and still we don't have good figures. Hence the volatility, the turbulence, big drops.
• For the year now, average decline is standing at 29% now - sector has not done well till now. Only 1 stock is in green for the year - SLX
• Any special event/incident/catalyst can completely change the trading pattern - something to keep in mind
• Markets are still volatile and declining. Individual risk appetite and expectation should drive trading. The sentiment is poor, talks of recession high. Plus we have to deal with ASX EOFY sell.
• There were some signs of decoupling from general market, but its not consistent. If we look back, it is very clear that there is practically no decoupling and if general market is on decline, there is a good chance we will decline
• At this stage I am at over 40% cash in my total portfolio. Have only been day trading, short trading, exiting quickly if there is decline, for last 2 weeks. My way of managing the crisis. I will continue in that mode for another two weeks till we get CPI figures for June on July 13. Or if general market is making good gains, I will then start holding.
• The US markets on Friday was very good

• Prediction - Stocks will start strongly this week but at this stage I am not sure if the gains can be maintained. The general market will provide direction. Hopefully by end of week we are ahead of last week.

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Something Positive:

• U Macros still very strong - industry moving forward without any significant negative news, though not reflected in sp of stocks
• EOFY sell should be decreasing as we have just this week and that too by Tuesday I think. Most EOFY sell may have had happened though.
• I did a lot of reading this week around general market conditions. Although lot of pessimism is still there, some charts are indicating that we are getting closer towards the bottom within the range of 10% - but pleas dyor as market is on decline
• Once the plateau happens, once the price gets above 200 day moving average, many punters will get in. This may still be few week or months away, but those optimistic - for sp to move above 200 dma, sp decline should reduce from here and slowly catch up towards the line. But please dyor
• US indices rose between 5.5% to 7.5% for the week. Signs of a reversal or dead cat bounce? Lets see

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Here is the Figures for the Week:
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