Weekly Review REE Stocks - 15th Dec 2023Here is the weekly...

Weekly Review REE Stocks - 15th 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, 7th straight week of gains - big gain for the week, moving another 115 points (2.5%) for the week to 4719
• SP 500 finally made another new 18 month this week and is inching towards all time high above 4800
• Volatility Index VIX is below 13 like last week - very bullish, Yields dropped nearly 10% for the week, very bullish, and Dollar Index too weakening
• Bitcoin made a huge move last week inching towards 45k, but now seems to be in consolidation phase between 40/45k before it could make a move towards 50k. Still holding its ground, above 42k, indicating good time for stocks and risk taking assets
• Sentiment Indicator - stayed in Greed section but not moving surprisingly, last 4 weeks - 68, 67, 68 and this week 67 again - so punters are still hopeful but they are not becoming Extreme Greedy, something to watch as it shows some hesitancy and some caution being used by punters
• So overall markets going in right direction. Russell 2000 (worst performing index, but key for small/mid caps and risk taking assets) again doing well gaining around 100 points (over 5%), a new 52 week high and crossing 2000 this week after long time
• 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/U/Li:

• Chances are good that overall markets may still be favourable
• There is a possibility of making an attack on all time high over 4800 on SP 500
• It would be good to keep over 4600 on SP 500, so 4540 can act as support - but at this stage bulls are on rampage
• Key economic data this week around - GDP, Jobs, Housing etc - so nothing very significant to make a big move on stocks, but sometimes if stocks are not getting direction, some not so significant data becomes a driver
• The question in every one's mind is - will we have a continuation of Santa Rally and make a new all time high on SP 500
• Uranium Sector overview - After a big rise in consolidation phase. Spot price is increasing every week. There is a possibility that once this consolidation finishes, stocks may do a catch-up. A rise in 50% in U stocks is possible in a 3 month period. The downside is because a big gain has been made, its getting inertia for another big rise, small rises have been met by sells. Hence a waiting game. I am holding and waiting, will get out if signals keep on showing resistance of a big move on upside, otherwise hold.
• Lithium Sector overview - After being down most of 2023 and smashed in last 3 months, some signs of bottoming. Last week was a good one. Stock market sometimes is driven a lot on sentiment and hope, so last week slight change in sentiment many stocks were rallying. Although there is no confirmation yet, probability is still looking good. The question is - will the rise be parabolic (driven by short squeezes) or gain and consolidate? Chances are it could be volatile, till some other numbers like Spot price etc catch up. So interesting phase in the sector. I am playing here with caution, mainly because what has happened before. 30% holding and trying to ride, 70% short-term trades - will follow this till get more confirmation of bottoming, though there are already good signs. Eg most stocks bottomed last week and did not see a new 52 week low this week (in general, though many still did). My situation is different, I had exited many times on downtrend, so playing different, otherwise could have been a strong hold at these levels.

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Personally:
My situation is slightly different to last week. Last week - Last week - 25% U, 35% Li, 10% Others, 30% cash. This week - 40% U, 20% Li, 10% Others, 30% cash. So added some more U stocks this week. Li stocks I have been mentioning playing one stock very big, got out this week, next day CR, so now watching for entry. I had got out of a few other Li stocks this week, but have bought back some on Friday. Reason I have kept cash still at 30% is because playing a lot of stocks, especially Lithium which is getting slightly volatile with soft hands -trying to play stage by stage - 10/15% at a time. May not be best strategy if stocks continue to go up, but possibly still getting good gains without much risk - suits my risk/reward, still trying to play safe till volatility is reduced.
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Stock/Sector specific Info:

• Last week I had said ENR has again gone into an indecisive zone. It continued to play that way - between 25 and 29 this week. Four times touching 25 but holding.
• A small loss on weekly from 30 to 26.5 - but nothing critical at this stage
• Couple of weeks back 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. But 25 is become an interesting number, if it can hold I will buy here.
• The REE sectors stocks I track is now down 4% across 26 stocks for the year,
• This week across 26 stocks there was loss of 5% - so sector still not doing well
• Few weeks back I wrote that I exited WA1 with a sizable holding, in high 10s, Last week I had mentioned had bought some around 850s. On Monday I exited around 950 when it was coming down from 10. Bought back at 750 and holding. Stock is very volatile so a 5 to 10% drop from its recent high, I exit and wait, or if it goes below my buy price
• Overall REE sector is not doing well, very few stocks in green for the year - only ENR/MEI/WA1 are in green for the year. So out of 26 stocks, 23 are in red for the year. 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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