Weekly Review Li Stocks - 12th May 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. I do hold a number of Li stocks and like to trade. This is the reason I include a number of Li Stocks in my analysis. I also have performances of Li stocks for 2022 - for those interested in looking at longer term view.
Please note:
This is no reflection of all AU Li stocks as I have only included those that I am interested. In my list are shares that I hold, held before or planning to buy in near future. Since this is my list, I may have missed some good stocks. The averages are simple averages and not weighted averages. So the average don't reflect AU Li average. This is just for my tracking and analysis. I have both ASX and US stocks in two separate figures.
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Please note that all my analysis are from a trading perspective looking at short-term view.
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NO DIARY THIS WEEK: This week there is no diary. Although I have bought a fair few stocks recently, I am still not sure how long I will hold, hence not putting it out in Diary. If things continue to be positive, then possibly next week.
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There are no new additions this week, so my stock list contain 73 stocks.
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How are we going in 2023 - General Markets - continuing the theme and similar to couple of weeks back:
- SP 500 is now playing around the 4100 mark for nearly 7 weeks with no clear strong direction to go either way
- Going up 4200 is key, going down 4050 is key
- Will leave it here as going sideways, so rest is same as I wrote last weekly report, so anyone interested can read there
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What will happen next week - General Markets:
- Monday should be a sideways to slight green, ASX may wait for US markets to provide further direction. On Friday resource stocks were very slightly in green
- I don't think there is any major economic data next week that can change markets in a big way
- So what may change in a big way? Some economic new, like some big bank failure, etc
- General markets may just run sideways. Technicals could drive market
- Seasonally May is not good month for stocks in US - (sell in May and go away). We have not seen anything like that in first two weeks. Something to keep an eye from general market perspective
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Personally: My situation did change from last few weeks what I am writing. I have picked up a lot of stocks this week, especially early in the week and some end of previous week. Still holding and watching. I will continue to hold unless I see a very evident trend range or markets dropping. Many bears are still calling that we may top here, but as long as we can hold here, I think we will be fine. Alternative some sectors could hold even though general markets are dropping. But I am still cautious and not fully convinced of a full bull run at this stage - this coming week should provide more direction. There are some signs of topping so watching closely. But risk/reward has been improving so makes sense to hold and take risk - but that's just my view, please dyor.
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Stock/Sector specific Info:
- AZL sitting under 5, playing between 4.1 and 5.5 for nearly 9 weeks -currently hovering around mid 4s - SPP price
- Since I exited most in Li in January, I am still waiting for a decisive turn in trend
- AZL has not been able to capitalise on good Li sentiment of recent, may be SPP issue, but still not very good
- Li sector had a very good week with average gain of 7% across 73 stocks and now just 1% down for the year. The U and REE sector also had a similar weekly gain - so good to see the rise is broad based and consistent.
- The ASX Li rally is not totally broad based in terms of width - some stocks have made very good gains where as others slight. I often compare to this to a horse race where some horses do very good in first half and take lead and others come back in second half. For those who like to trade, a good opportunity to back the ones who are running now and switch later to others. But if the market/sector holds, then it may be better to just hold for now rather than trying to trade which is not easy
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Here is the Figures for the Week:
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Figures for US Li stocks:
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(20min delay)