MTM Weekly Report, page-54

Weekly Review REE Stocks - 30th 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)-

• Markets have played out as we expected, a pullback and now making new highs. SP 500 made a new 52 week high on Friday
• Market breadth is improving but still a way to go
• There are still strong bears who are pointing to a big fall in SP 500. Its all based on recession fears including credit crunch etc. They believe this Jul-Sep quarter can become very rough. Seasonally this is also a bad quarter from statistics perspective.
• VIX staying below 15, in fact 14, is again pointing towards a bull market and this correction is just being absorbed for now
• Fear and Greed indicator is back at 80 - Extreme Greed. Last Week was 74-Greed, so moving around at high levels. Also one on the reasons market is going up

• Bitcoin is still at resistance level at 30.5k - a number of attempts have failed, but it looks like its a matter of time it may t=move towrads 3400. Markets may follow it.

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What will happen next week - General Markets:

• US markets had a big green Friday, so ASX should do well
• SP 500 should get to the next number I have been talking about - 4500. Downside - if 4300 is hold, it will just be small pullback.
• This week no major economic number like last week - some jobs/housing, earning reports, Fed speech etc - they may provide small directions.
• Many believe that we may consolidate now, may be after doing 4500 - so sideways for few weeks before making a move. But the bulls are on rampage, so its best to keep an open mind. Also the trend is on upside, so best to play trend.
• Its a short trading week in US due to July 4 holiday - so another reason for small consolidation in the 4350/4500 zone
• As tax sell is over, we should see some bounce in stocks, especially those which did not do well. Chances are percentage increase of some bad stocks may be better than those of good stocks - something to look for those who want to play swing trades
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Personally: My situation is similar to last week. My major foray for now is into Uranium stocks, buying in tranches as I see confirmation for next leg.. Otherwise I am playing some specific stocks which are doing well in current situation, some Li/REE/metals/oil stocks. Still holding a few Li stocks which are doing well and will continue to hold them for medium term. Others I play for short term swings.
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Stock/Sector specific Info:

• MTM remained flat at 10.5.. So after losing half cent each for three weeks, first hold, though barely. Punters still waiting. Why? Waiting on drilling results which can be binary event 1/0 state, is never a good play. There are always probabilities of making a big gain, but it can happen in reverse as well. But MTM with market cap of just 10m or so, risk-reward is still very good.
• This week looks like stalemate. Although no gains, but good thing is not many left to push it lower. Also low volume of trading.
• I am still waiting to buy back my stocks I sold some time back. After a number of weeks, picked some oppies at 2c recently.
• The fire in Canada has doused any new drills, but it will come back. Lot of other Lithium Canada stocks are affected as well. For those with conviction, these are the times to buy the dips - but please dyor as nothing is guaranteed
• MTM is up 33% for the year
• The REE sectors stocks I track is up 25% across 26 stocks for the year
• This week across 26 stocks there was gain of 4%. Last week it was drop of 2%.
• Only 10 of 28 tocks were in green this week, so better than last week, but not good enough at this stage - hopefully with tax sell gone, things change
• Although 5 stocks have gained over 100% for the year (ENR joined the list this week - I hold), 18 of the 26 stocks are red for the year - so overall sector is not doing well - 3 stocks have gains over 250% and they are pulling the sector. Similar to mega tech stocks which were pulling SP 500
• 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
• MTM has moved into an indecisive state and volume is decreasing every day. The drill results may provide a strong direction it seems, otherways just sideways movement.
• 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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