Weekly Review REE Stocks - 1st Dec 2023Here is the weekly review...

Weekly Review REE Stocks - 1st Dec 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 REE stocks and like to trade. This is the reason I include a number of REE Stocks in my analysis.

Please note:
This is no reflection of all AU REE 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 REE average. This is just for my tracking and 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 list contains 26 REE related stocks and no new additions this week.
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How are we going in 2023 - General Markets

• SP 500 has continued its uptrend, 5th straight week of gains - gaining just around 0.8% this week
• SP 500 crossed key level of 4500 couple of weeks back and stayed above that number the whole week - which should be considered bullish. I had said next number is 4600 - SP 500 reached 4599.39 on Friday - Algos made sure it doesn't cross 4600
• Volatility Index VIX is below 13 - very bullish, Yields had some big drop this week, another bullish signal, Dollar Index weakening as well
• Bitcoin now above 38k and moving towards 40k - bullish for stock markets from a risk taking perspective
• Sentiment Indicator - stayed in Greed section, last week 68, this week 67 - so punters are also hopeful of some more gains, without moving to Extreme Greed
• So overall markets going in right direction. Russell 2000 (worst performing index) too trying to come back but has to do more - so that our risk/resource stocks also enjoy the boom, but moving up now with another 3% gain on Friday
• Seasonally they say we bottom in October. If seasonality is to play, we may have bottomed in October - again - as last year

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What may happen next week - General Markets:

• Chances are good that overall markets may still be favourable
• There is a possibility of some consolidation, but 4600, an 18 month high, is attracting punters like a magnet - and now its touching that
• It would be good to get over 4600 on SP 500, so 4450 can act as support - this may then form the platform for move to 4800
• Key economic data this week around - PMI, jobs data including Non-Farm Payroll to provide direction

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Personally:
My situation is only slightly different to last week. Last week - 35% U, 30% Li, 5% others and 30% cash. This week - 35% U, 20% Li, 10% others and 35% cash. So 10% decrease in Li stocks, and 5% gain in Others and Cash

Last week I had mentioned two around two Lithium stocks I was playing big, I had mentioned I had got out of one and reduced in other -

• First one, which I have been playing for medium term, which is playing around a major announcement of PFS shortly, I am just around 40% of my holding from couple of weeks back. Price was stalling and looked like some back test etc so had got out 60%. It is still in consolidation zone, has not been able to break out for me to buy back everything
• Other I I mentioned I was playing with very soft hands based on past history of Li stocks in this phase (Stage 1 -potential/hope/hype) - I had mentioned how I got out, that stock had further 20% drop this week, close to 50% from its recent high, so till now it may look all right my decision to exit - Reason I exited and have mentioned many times, Stocks that play in this hype/hope phase, I exit if it drops around 10 to 15% from its high - In 2 different sells I got out around 12.5% from its high which I have mentioned in the thread of that stock
• Although I have maintained U stock level - its at a cross road, big gains have been made, its not finding it easy to make the next leg - any gains are met by profit taking sells, so watching carefully whether it will top here or can make the next leg
• Others - In some Gas/Oil stocks and Gold - got out of REE etc
• All the above is just based on my analysis, feelings etc - I could be wrong and have been wrong many times before, so please dyor and check risk/reward

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Stock/Sector specific Info:

• ENR finally broke thru its support of 35. News around NT Copper project didn't like, and also BHP exiting, but REE could be key here. But stock had been weakening from before itself. The stock dropped from 39 last week to 30, also making a low of 26
• I exited my stocks at average 36, my buys were from 32. I had been writing for a number of weeks that if 35 does not look like holding, I will exit, so stuck to my original plan. Watching now
• The stocks needs to get over 35 but more importantly 40 to be bullish. On weakness, another test of 23 could come into play
• The REE sectors stocks I track is now down 1% across 26 stocks for the year,
• This week across 26 stocks there was loss of 4% - last week also in red, so not in good state
• Few weeks back I wrote that I exited WA1 with a sizable holding, in high 10s, not sure what is happening, but this week touched 810 - was that the bottom for this phase? - watching at this stage
• Overall REE sector is not doing well, very few stocks in green for the year - only ENR/MEI/WA1 to certain extent. Even LIN with over 200% gains has given up. Not a good look. But maybe things might turn now - not there yet, but if general markets also move in positive direction, we could see some bottoming happening.
• Any announcement can have an effect of sp - both up and down
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Here is the Figures for the Week:
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