MTM Weekly Report, page-48

Weekly Review REE Stocks - 2nd Jun 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 (similar to last week)-

• Last week I wrote - "Up side - 4300/4350 should be in play now". Somehow its playing that way.
• This week SP 500 reached 4290 - so including margin of error, the target 4300/4350 which I had been calling for last 6 months, has been reached
• Up side - there are talks of 4400 now. Down side - As long as 4050 is held it should be fine.
• Only issue is that the rally is still being led by big tech stocks. They are doing most of the lifting. Breadth participation is not good
• Most risk-on assets including resources have not done very well. This week there was slight improvement here. Early days but Uranium stocks wanting to move, so that could mean good for resource, risk-on assets
• Next talks about recession will become key driver of markets, though at this stage inflation/interest rate are equally in play. Besides that health of banks, housing sector etc is also being debated
• Two weeks back in Weekly Report I showed how Market Sentiment Cycle is playing with Nasdaq (there are a fair few who believe and follow this). Those not aware of this can revisit that weekly report
• There are many who believe market crash may not happen, including me, but its best to have an open mind when many think otherwise

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What will happen next week - General Markets:

• Monday should be a green day and we should see some early gains
• For many reaching 4300/4350 was a big milestone. So that play should be there
• Many bears who were very convinced of a big drop (15/20% drop in SP 500 towards 3250) were also predicting a rise towards 4300/4350 and saying markets will drop from here - so the bears might be preparing for this level, something to keep an eye on
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Personally: My situation is changed from last week. I bought a good number of Uranium stocks on Thursday/Friday. The U sector has had many false starts in last 1 year, but I feel as time passes, one of these starts may lead to some boom there. Hence take a chance. In first tranche buy 25% of what I want to buy and then see what happens - if it goes up, will buy more.
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Stock/Sector specific Info:

• MTM lost half cent for the week - from 12.5 to 12
• MTM is up 52% for the year
• The REE sectors stocks I track is up 27% across 26 stocks for the year
• This week there was no gain or loss across 26 stocks
• 3 stocks did a new 52 week high this week - VSR, MEI, WA1. These are the same 3 stocks that did a 52 week high last week. Also MEI and WA1 also did a 52 week 2 weeks back - something to keep an eye - (I am holding)
• Although 4 stocks have gained over 100% for the year, 16 of the 26 stocks are red for the year - so all is not rosy and only specific stocks are doing well.
• The trend is clear - stocks doing well are doing better but other stocks are not able to catch up - a cue for people where to put their money
• MTM is waiting for drill results
• Friday was a good day for MTM with confidence returning. There is a good chance now that it may make a move up to 14c now, whether it gets over that is to be seen
• 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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