MTM Weekly Report

(I have started a new thread to do weekly reports around REE sector. I have been doing something similar in Uranium and Lithium Sectors for over an year. Last couple of months I have been doing lot of trading around REE stocks, so started this numbers tracking for various REE stocks for myself - so thought of sharing it. In the list is a mix of stocks - some I am holding, some I intend to hold, and others have included for statistical purpose how the sector is going. I also include some sections around general market how it is going as it influences the stocks. It would be good if we can leave this thread for Weekly Report discussions so that all weekly reports are in one place easy to find and use other threads like General Discussion etc as we are currently doing. Thanks.)

Weekly Review REE Stocks - 5th May 2023

Here is the weekly review figures and charts that I intend to 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 initial list contains 26 REE related stocks.
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How are we going in 2023 - General Markets - :

• SP 500 is now playing around the 4100 mark for nearly 6 weeks with no clear strong direction to go either way
• It got a scare this week, but has rebounded back to finish at its familiar territory - around mid 4100
• Its now bottom tested around 4050 twice and has come back - a bullish sign. It did once last week, and again on Friday this week
• Going forward, 4200 on SP 500 is key for a bull market. Getting above that would be first step.
• Now it needs to hold 4050 going down.
• Looking back - very good January, very bad Feb and March, flat April - what has May in store?
• The biggest worry now is Recession. All talks now shifting from Inflation to Recession. Also banking crisis, credit crunch etc
• Die hard bears still saying that SP 500 needs to fall around 3250 for final bottom
• One thing which I feel that die hard bears are not getting and the reason I am cautiously optimistic that we may not crash like 2002/2008 is that the economy is much different than those years. Job numbers are great, people are spending, Earning Reports still healthy.

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What will happen next week - General Markets:

• Monday should be a green day - big move in US markets after 4 red days.
• Most important data this week is CPI data on Wednesday, PPI on Thursday. Also lot of Earning Reports
• Based on statistics, May is not a good month. Many say - "Sell in May and go away". Also June is notorious for ASX for tax loss selling - so seasonality is not in favour - it may not happen, but just to keep that in rear window
• Many believe that Friday we have moved to a bull trap and after another rise we will drop down.
• More bank failures are predicted
• Overall last 6 weeks there has been no movement. There is still no strong indicator that we will have very big moves. So we could stay sideway for a bit more.
• Markets after being docile for around 5 weeks when SP 500 mostly traded within1% daily (compared to 5% many days earlier), there is a slight shift and now its getting bigger swings - around 1.5 to 2% some days. This is looking like a move in one direction may happen
• If we stay above 4100 on SP 500 - it will be very healthy. If we cross 4200 - it will be very bullish. Odds are good, we need confirmation.

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Personally: My situation has not changed for last few weeks and my position is same as last week. I am cautiously playing a number of stocks hoping for a play towards 4300/4350 on SP 500. For me its important 4100 is held else I will go defensive. Other than that I am playing specific stocks which are doing well currently - some announcement etc. Doing lot of swing trades and medium hold at this stage. Not playing broad sector at this stage which was common a year back though have played a lot of REE stocks in last couple of months
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Stock/Sector specific Info:

• MTM was 10% up for the week after gaining 29% previous week. So it is in an uptrend.
• MTM is up 115% for the year
• The REE sectors stocks I track is up 14% across 26 stocks for the year
• This week there was gain of 2% across 26 stocks, last week 4% gain - so sector is in an uptrend
• 3 stocks did a new 52 week high this week - LIN, MEI, VTM
• Although 3 stocks have gained over 100% for the year, 15 of the 26 stocks are red for the year - so all is not rosy and only specific stocks are doing well
• MTM needs to hold 17 for a strong bullish run. If it eases 15.5 is a must hold.
• I feel we are now in 15.5/22 trading range. So there is a chance of getting towards the high side of it - 22 is also our 52 week high
• Any announcement can have an effect of sp - both up and down - so please dyor
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Here is the Figures for the Week:
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