ENR Weekly Report, page-6

Weekly Review REE Stocks - 13th 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.
.

.
Please note that all my analysis are from a trading perspective looking at short-term view.
.
.
This list contains 26 REE related stocks and no new additions this week.
.
.

How are we going in 2023 - General Markets
.SP 500 after making a few 52 week high on July 27 is in another down play after reversing from 4200 level

• At this stage, most likely scenario, short-term downtrend, test some lower levels and possibly make a bottom in the next week or two - hopefully then rises for the rest of the year
• Gained around 0.5% for the week, a gain after some time, from 4308 to 4327 - so last two weeks small gains though one would feel we have been dropping
• 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
• 
  

What will happen next week - General Markets:

• US markets had another drop on Friday the 13th - U stocks marginally in green, Li stocks another red
• Seasonally they say we bottom in October. If seasonality is to play, we may do a bottom soon, maybe end of this week or next
• SP 500 now in choppy mode, needs to hold 4200. More likely could reverse from 4250/4280 - but some believe 4160/4200, where as some believe we are just going to crash 15 to 20%
• Some signs in crack of economy - Banks, Housing in US, China, Inflation and now Wars suddenly gripped fears in minds of many
• Next week Earning Reports may give direction, especially Tesla/Netflix. Also Monthly Options Expiry on Friday.
• U stocks have been in consolidation mode, looking for next leg - this week may give direction if its ready. Li stocks on big downtrend for months are looking for a bottom - mixed signals till now, may be a bit more to go down with markets and then bottom

.
.
Personally: My situation is different from last week. I was 90% U stocks as of last week. This week I am 20% U stocks, 20% Li stocks, 10% others - rest in cash. I am not sure what is going to happen in general markets. I am watching if U stocks want to come back and resume their journey. Also watching any bottoming of Li sector. Ideally would like to have 40% U, 40% Li, 10% others, 10% cash to play very short trades - but price action will decide what I may be doing
.
.
Stock/Sector specific Info:

• ENR gained this week, moving from 24 to 27 - so hopefully a bottom around 23 is made. Last time also in June when coming back from 35, the 23 was bottom. So this may form a strong support and point of reversal
• General market and sector weakness not letting it to blossom
• At this stage I have not yet bought back, watching to see if it holds here
• The REE sectors stocks I track is down 11% across 26 stocks for the year,
• This week across 26 stocks it was flat.
• Overall REE sector is not doing well, only 6 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
• 
  

.
.
Here is the Figures for the Week:
.
.