ENR Weekly Report, page-2

Weekly Review REE Stocks - 15th 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 highs and crossing 4600 is still in pullback mode, and in a choppy stage
• At this stage its at crossroads, same as last week - delicately balanced, but the odds of going down slightly higher than going up in immediate short term
• For the week it didn't have a strong direction in one way. Overall last week it finished at 4457, this week at 4450 - so at same level, very slight down
• Upside - another retest of 4600 before getting to 4800 all time high. Many talk of 4550 as key level
• Down side - 4420 first key level, it is toying with that. Many feel a test of 4300 is coming, and more importantly even 4200 is a good possibility
• 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 big drop on Friday, over 1%. U stocks were still in green and Li stocks were mixed. ASX may have the same trend.
• Some believe Friday drop was due to Quadruple Witching (expiry of options) and played by Market Makers to maximize their gains, Others think its a delayed reaction of higher inflation CPI/PPI we received. Early next week will confirm.
• SP 500 now in real test of another pullback. Friday action are pointing possible test of 4420, 4330, 4300 and 4200 in that order. The odds of a these reaching has increased after this week, so 3 to 6% drop. The likes of Michael Burry who has shorted 1.6b think 15 to 20% drop
• Mixed lead indicators - more negative than positive. VIX still below 14 which is good and bullish. But Yields and Dollar Index strong - so not good. Bitcoin after 31k touch now in slight uptrend after falling near 25k - above 26k and shrugged off the weakness of markets on Friday. but not rallying much
• Some signs in crack of economy - Banks, Housing in US, China and now Inflation Increasing suddenly gripped fears in minds of many
• Interest Rate decision next week Wednesday - FOMC. Powell will speak. 97% chance no rate increase, but if its otherwise or Powell speak (hawkish/dovish) may provide strong direction

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Personally: My situation same as I mentioned last week. Mostly U stocks and few scalping in others. U stocks 60% have gone long and 40% I am trading short term, hoping to catch up and down, but have left on average 60% to run as we are in a strong uptrend. At this stage both general markets and U sector doing all right, so will continue unless I see a strong message otherwise.
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Stock/Sector specific Info:

• ENR lost this week, finishing at 30.5 from 36 last week, so loss in 2 consecutive weeks
• General market and sector weakness also pulling it down
• I got out of stocks at 35, 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 up 1% across 26 stocks for the year,
• This week across 26 stocks there was loss of 1%, - 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 few stocks do well. 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% ust 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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