ENR Weekly Report, page-3

Weekly Review REE Stocks - 22nd Sep 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 after making a few 52 week on July 27 is in pullback mode for last 2 months
• For last few weeks it was in choppy mode around 4450 level, but this week decided to make its journey down.
• Of the numbers I have been calling for downside, 4330/4300/4250/4200 - we have lost the first now of 4330, SP 500 at 4320 on Friday. For further downside these numbers will come into play
• Last week I said we are crossroads/delicately balanced - this week we are in semi-free flow
• Many resistance levels have been broken, so its looking weak
• Upside - another retest of 4600 before getting to 4800 all time high. Many talk of 4550 as key level
• Lead indicators deteriorated for the week - VIX, Yields and Dollar Index increased. Sentiment Indicator is now at Fear at 36. Just few months back we were at Extreme Greed at 82 - so we can see how market has changed
• Overall trend from October is still uptrend. There will be pullbacks. So at high level (those holding longs etc) the uptrend is still intact. Those looking for swing, short-term trades, some volatility may be in place

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What will happen next week - General Markets:

• US markets had a small drop on Friday, over 0.2%. U stocks were still in green and Li stocks were in red. ASX may have the same trend.
• Last 10 days of September is the most bearish period of the year. Many believe we may bottom towards the end of next week
• SP 500 now in real test of pullback. Needs to hold 4200 in worst case, but some believe we may go down to around 4250 and may reverse - so another 2% or so
• Some signs in crack of economy - Banks, Housing in US, China and now Inflation Increasing suddenly gripped fears in minds of many
• Although we could reverse from here, odds of falling a bit more before reversing has higher probability
• Uranium sector has decoupled around 70% now from general markets, especially down trend. It may still get affected, but may hold a lot. Even on Friday when resource stocks were falling, U stocks were well in green and 6 out of 28 stocks I track made a 52 week high this week

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Personally: My situation same as I mentioned last week. Its just Uranium, Uranium and more Uranium. As I have been writing for last 2 months, Uranium was looking like making a move and I had started moving everything there, I did that just over a month back. During this period many stocks have doubled and average increase around 80% in the sector. I sincerely hope other people taking any cue from me also did well. I feel we have done Stage 2 of 5 Stages I anticipate. First stage was a gain of around 30%, which it did multiple times in last 18 months but never move to Stage 2. This time it did. Which was another 50% increase on top of Stage 1. It is consolidating here. Next stage 3 we could see another 50% swing in the next month or 2. Caution - this is an optimistic view, anything can happen, U sector has some risks which I have posted couple of weeks back if anyone interested, so please dyor as anything can happen
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Stock/Sector specific Info:

• ENR lost this week, finishing at 28 from 30.5 last week, so loss in 3 consecutive weeks
• General market and sector weakness also pulling it down
• I got out of stocks at 35 which I mentioned last week, my buy average was 30 so no big gain, didn't like the price action and watching now to see when to enter. Another reason was that another sector Uranium that I trade is running hot, so moved there temporarily
• The REE sectors stocks I track is down 1% across 26 stocks for the year,
• This week across 26 stocks there was loss of 4%, - so not very good on the back of general markets retreating as loss last week as well
• Overall REE sector is not doing well, only 5 of 26 stocks in green for the year. Those more advanced, facing the tough realities of moving from develop to production, not so good - and this an indicator sector is not doing well - Over 80% of the stocks have lost close to 40/50% just this year
• 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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