ENR Weekly Report, page-8

Weekly Review REE Stocks - 20th 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

• This is what I wrote last week, till now it has played out that way "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"
• Sitting at another critical level above 4200, needs to hold here
• 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 another drop on Friday, so a soft opening on Monday for us
• 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
• This is what I wrote last week, till now it is playing out that way - "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%". We lost first level 4250, next 4200 in play.
• Some signs in crack of economy - Banks, Housing in US, China, Inflation and now Wars suddenly gripped fears in minds of many
• My gut feel - a good chance to get towards 4170 or so, a number I called a few times recently which represents the drop from neckline of recent height between neckline and head. A good scenario would be to continue to hold 4200. If these two don't hold - very unpredictable and could get nasty

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Personally: My situation is slightly similar to last week. 30% U stocks, 15% Li, 5% rest short play, 50% cash. Bought a bit more U, reduced my Li, mostly playing one Li in slightly big way - it has made massive gains for this year, but I feel it has still got legs (but please dyor as anything can happen and stock is a bit volatile) and hence holding and playing this for last few weeks
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Stock/Sector specific Info:

• ENR lost slightly this week, moving from 27 to 25.5. As I mentioned last week 23 is a key number if it weakens
• 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 13% across 26 stocks for the year,
• This week across 26 stocks there was loss of 6%.
• Overall REE sector is not doing well, only 4 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 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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