Weekly Review REE Stocks - 22nd Dec 2023Here is the weekly...

Weekly Review REE Stocks - 22nd 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, 8th straight week of gains - moderate gain for the week, moving another 35 points (0.8%) for the week to 4754
• SP 500 made another new 18 month this week and is inching towards all time high above 4800
• Volatility Index VIX is just over 13 - still very bullish but slowly inching upwards, as some feel markets may top here, Yields and Dollar Index not much change over the week - some consolidation happening
• Bitcoin made a huge move 2 weeks 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 43k, indicating good time for stocks and risk taking assets
• Sentiment Indicator - has moved to Extreme Greed 77 - last few times when we have moved to Extreme Greed (in 80s), that is where market topping has happened and indices have gone on some downtrends - so something to keep an eye on
• 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 48 points (around 2.5%), a new 52 week high - so now Russell outperforming other indices, which is good for small caps and risk based assets
• 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
• Key economic data this week around - Jobs, Housing etc - so nothing very significant to make a big move on stocks,
• 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 - many believe it may happen soon, but whether it happens in this calendar year
• Uranium Sector overview - Uranium Spot price is a monster move and has gained around 80% for the year. Stocks too have moved well, but not good enough. Some stocks and ETFs are doing 52 week high, but many stocks still not able to cash in - sometimes stocks can be lagging. A big burst had happened couple of months back, then consolidation, I feel everyone is now waiting for another big burst to give gains of 30 to 50% average on stocks - I feel it may happen in next few months, not sure about timing, who knows could be anytime
• Lithium Sector overview - Spot prices are on constant decline and has affected a lot of stocks. There was a good burst which started last Thursday, but is slowly losing momentum. Good signs is that ALB has kept its gains from last week. It has 2 bursts - 112 to 127, from 127 to 146 - so 15% each, and has kept those gains after a long time, up around 30% from its lows - so this for me is a good sign. SQM too doing well. But overall sentiment is not great and sector not doing well, so not a sign to plunge at this stage I feel

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Personally:
My situation is similar to last week. Last week - 40% U, 20% Li, 10% Others, 30% cash. This week - 40% U, 20% Li, 15% Others, 25% cash. So no change in U and Li sector allocation, but have moved a lot of stocks around, both in U and Li.

Couple of U stocks had a target of 25%, so got out and rotated to other U stocks.

In Lithium, most of my holding is in 1 stock - have gone big there. I made some good gains in that stock in last 2 months and had exited around 10 days back. Have bought back this week, and currently am very slightly down as of Friday's close. Playing most stocks now is risky, in Li sector more risky. But have gone with my gut feel. I always follow price action, and if it doesn't look good, I will get out. An important announcement to come in next few days which may provide short term direction. At this stage my sentiment is - cautiously optimistic - lets see how it plays out.

In REE I increased my holding in one stock which is doing very well and bought another one. Also bought one Health stock.

I keep a lot of cash to do short-term trades, pick up sudden drops etc. All this is based on my opinion etc and carry lot of risk, so please dyor.
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Stock/Sector specific Info:

• Last week I had said - "But 25 is become an interesting number, if it can hold I will buy here". I did buy at 25 this week, but not much. If it can hold above 30, will buy more
• The REE sectors stocks I track is now down 7% across 26 stocks for the year,
• This week across 26 stocks there was gain of 7% - largely due to big gain in MTM, but also WA1, HAS. Overall it was a good week for REE stocks with MEI , LYC and PEK also on the move
• Last week I had written about WA1 - ". 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". I bought more around 850, 950 - so holding decent amount now
• 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, only 3 in green. 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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