Weekly Review REE Stocks - 8th Dec 2023Here is the weekly review...

Weekly Review REE Stocks - 8th 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, 6th straight week of gains - small gain for the week, but considering it had dropped around 50 points, did back test and came back, it is a good look
• SP 500 finally made a new 18 month high on Friday. I have been writing two targets for a while - 10 months high above 4607 and a new All Time High. We have achieved the first.
• Volatility Index VIX is below 13 like last week - very bullish, Yields and Dollar Index too weakening
• Bitcoin made a huge move, nearly 15% gain in a week, which is massive. Now approaching 45k and having 50k in its sight towards 40k - bullish for stock markets from a risk taking perspective
• Sentiment Indicator - stayed in Greed section but not moving surprisingly, last 3 weeks - 68, 67, 68 - so punters are still hopeful but they are not becoming Extreme Greedy, something to watch as it shows some hesitancy and feel that the rise may not be sustained
• So overall markets going in right direction. Russell 2000 (worst performing index) too trying to come back but has to do more, gained around 1% for the week - so that our risk/resource stocks also enjoy the boom,
• 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 play might be key, some sideways before the move
• It would be good to keep over 4600 on SP 500, so 4540 can act as support - this may then form the platform for move to 4800
• Key economic data this week around - CPI, PPI and Fed Interest Rate decision - so big events which could move the market in slightly bigger way
• The question in every one's mind is - will we have a Santa Rally, or did we already get it by SP 500 making a new 18 month high? Next week will be telling

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Personally:
My situation is only slightly different to last week. Last week - 35% U, 20% Li, 10% others and 35% cash. This week - 25% U, 35% Li, 10% Others, 30% cash. So reduced some U stocks and moved to Li stocks. Still playing one Li stock big, but with much lower holding. A key announcement is due in next 1 to 2 weeks, I usually try to play safe before announcements, hence being cautious.
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Stock/Sector specific Info:

• ENR has again gone into an indecisive zone. Once again 30 is looking like resistance. Similar play happened several weeks back. so its back there to deal with
• A small gain on weekly from 29 to 30 - but nothing critical at thsi stage
• Last week I mentioned, I exited my stocks at average 36, my buys were from 32. Watching now. Either a decisive break from 30 or going towards lower range of 23.
• The REE sectors stocks I track is now down 4% across 26 stocks for the year,
• This week across 26 stocks there was gain of 1% - but stats deformed by big gain of 83% by LNR as my averages are simple averages
• Few weeks back I wrote that I exited WA1 with a sizable holding, in high 10s, have bought back small around 850s
• 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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