ENR Weekly Report, page-4

Weekly Review REE Stocks - 29th 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 high on July 27 is in pullback mode for over 2 months
• For last few weeks it was in choppy mode around 4450 level, but since last week its playing around 4300..
• Of the numbers I have been calling for downside, 4330/4300/4250/4200 - we have lost the first now of 4330 (last week) and now 4300 (this week). Other 2 numbers now very much in play
• Last week I said we are in semi-free down flow - we continued that this week, dropping another 1%, from 4320 to 4288
• Many resistance levels have been broken, so its looking weak
• Upside - first bounce level 4380/4400, downside 4200
• 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
• My take of what is happening, just a gut feel (not a prediction as even the best in predicting have fallen flat) - SP 500 the level of 4200 is in play - we may get a bounce but still feel that number is in play - and if that does not hold we may be in trouble.
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What will happen next week - General Markets:

• US markets had a small drop on Friday, over 0.3%. U stocks had a big drop and Li stocks were in green. ASX may have the same trend. but if indices are weak, Li will not be able to hold greens
• We have now over come the bearish September. Last year we bottomed in October. There is a good chance we will do another bottom in October this year. There may be a bounce, but we may go down, bottom out and then reverse
• SP 500 now in real test of pullback. Needs to hold 4200 in worst case, - 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 had very good last 2 months, I feel a plateau may be happening. Lithium sector in its worst phase of last 12 months. I feel bottoming may happen in next few weeks

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Personally: My situation similar to last week. Its mostly Uranium - but I have a feeling a plateau may be happening, so have slowly taking profits. But U sector can go on and on - so unless I see a downturn, will continue to play. But now have reduced my longs from 60% to 45%, doing more short-term trades as I want to prepare in case the sector has a big drop - not looking now, but as I mentioned last week prices have stretched away from moving averages so a pullback can happen. I mentioned we are in Stage 3 (Stage 1 gave 30%, Stage 2 gave 50%, Stage 3 I said will give another 50%), we got 15% average gains across 28 stocks this week, so another good week and still a bit to go. Somehow I feel Li is going to come back shortly, have not moved yet, but watching with great intent.
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Stock/Sector specific Info:

• ENR gained this week, finishing at 29.5 from 28 last week, so first weekly gain after 3 weekly losses
• General market and sector weakness not letting it to blossom
• I got out of stocks at 35 which I mentioned 2 weeks 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 4% across 26 stocks for the year,
• This week across 26 stocks there was loss of 2%, - 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. Even among these 5, LIN/ENR/VSR are slowly retreating over the weeks (their percentage gains were in 3 figures, now questions is - will they continue to be green). 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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