ENR Weekly Report, page-5

Weekly Review REE Stocks - 6th Oct 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 was in pullback mode for over 2 months, maybe now bounce time
• For last few weeks it was in choppy mode around 4450 level, then last 2 weeks around 4300, and then was testing 4200 since then..
• As of now 4200 looks have been held. 4 days this week it went around 4220 but rebounded.
• On Friday it regained the key level of 4300. Next 4450 though has to get some numbers before that
• Gained around 0.5% for the week, a gain after some time, from 4288 to 4308
• 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 is t- I had said pullback may happen, good chance 4200 will be held - both seems to have happened - so now I feel we are in a bounce taking us towards another attempt at 4600 - but there will lots of ups and downs still

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What will happen next week - General Markets:

• US markets had a big gain on Friday, indices over 1%. So both U and Li should be in positive
• Seasonally they say we bottom in October. There is still a chance that we may rally, then drop and make a final bottom of year towards end of October. Better scenario is that we have made the bottom just above 4200.
• SP 500 now in real test of bounce. Needs to hold 4300.
• Some signs in crack of economy - Banks, Housing in US, China and now Inflation Increasing suddenly gripped fears in minds of many
• Last week I had said Uranium stocks are stretched, have moved away from moving averages, so had said we may see a pullback up to 20% - most stocks dropped around 20% and now are getting back into green - somehow it has played out as I thought. Lithium sector is still unpredictable. Huge shorting going on in big stocks. Li price is still weak. So we need to see if bottom can form here.

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Personally: My situation similar to last week. Its mostly Uranium. Last week I had said I had reduced some long positions from 60 to 45% as I was expecting around 20% pullback in U stocks. The pullback around 20% did happen, and now I have bought back them and now holding 60% long. Have picked up 1 Li stock this week but have a tight stop loss in case it doesn't go well. Otherwise scalping, a few stocks are doing 10 to 20% swings, so trying to play those on the side.
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Stock/Sector specific Info:

• ENR lost this week, falling from 29.5 to 24 - so after 3 weekly losses, 1 week gain, back to weekly loss
• General market and sector weakness not letting it to blossom
• I got out of stocks at 35 which I mentioned 3 weeks back, 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 11% across 26 stocks for the year,
• This week across 26 stocks there was loss of 5%, - 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 60% 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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