Last week I asked - Have we topped for this phase this week?.An...

Last week I asked - Have we topped for this phase this week?
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An average week overall, nearly flat, moved from 1588 to 1593, so not much, still playing in the same zone.
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So my question around topping (short-term( for this phase at 1798 - does it hold any ground. I think so. There are 2 scenarios, we keep going up or we take a pause, a small correction, and then resume. I am playing for the second one. Mostly around macro, general market, ASX tax transaction in June etc - normally a weak stock period. But, U stocks in boom time, best to follow price action.
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This is what I wrote in this weeks report -

• • • • Uranium Sector overview - Uranium stocks still doing all right, the bullish trend is on, a brief pause which started last week, continued into this week. U sector has a great run, so in that context this pause, or I would say hesitancy, is neither unusual, nor unhealthy. But I have a theory which I have been writing for several weeks now, when CCJ started coming back from 39. I said CCJ will make a new high between 55 and 60, before we see a correction. On Friday, CCJ reached 56.24, finished at 55.51. So great run, no signs of slowing down. But it is also now in my territory that a short term top may happen. So I will be cautious and look for signs. But as I always, its best not to assume anything but follow price action. So last 2 weeks was a test whether we will continue this rally. I don't think we got a decisive answer, so we will have to wait, possibly this week. Reason, ASX U stocks are already now in hesitant phase. Thaey are not panicking, but exuberance is missing. Many big stocks which were making 52 week highs last several weeks, most are now down average 10% from their recent highs. Not big, but something to ponder. his is for those who do short-term trades, like me. Longs may still feel a hold and play is very good, and it well may be. So overall I would say, a caution phase, look for clues, especially around downside, because 15 to 20% drops can happen and with June tax transactions coming up, next rally could be September. U Spot price also dropped for the week. Last week at 91.95. This week 89.90. So not much, but has lost a psychological number of 90. So lets see.

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Personally in this phase I am holding from 1150 as I write last week, but on a reduced position this week, exited a few.
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For those interested how stock is tracking against other Uranium stocks or who hold multiple Uranium stocks, I do a Weekly Report across 34 ASX U stocks for more than 3 years. It has got Weekly/Yearly data how stocks are tracking. Also figures for last year. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.

Here is the report for this week
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https://hotcopper.com.au/threads/age-weekly-report.6580138/page-5#post-74008721
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