Uranium
On September 3rd I stated:
Uranium 45% to 75% higher should be no problem, probably later this year.
It was $58.50 at the time and closed last at $85.50, up 46%
I believe it’s a good time to trim positions if you’re so inclined or need to free-up capital for what’s ahead.
If I had more than a single URA position left to make an example of, I’d be selling it below today’s low of $27.96 to step aside for awhile, as I believe the sector is due to pause if not retrace a material amount.
Read more on URA, including positions profitably sold, here.
Banks
The original BNKU holding is up 36% in 9 months.
Anyone nervous about holding it would be prudent to book it below today’s low of $19.31
Read my plan for BNKU and of related profitably-sold positions here.
Hedging & Tech (a.k.a “The Magnificent Seven”)
Big tech, which has underpinned the majority of bullish market activity the past several years in general, and this year specifically, is starting to lag albeit while still climbing higher.
Restoring profitably-sold tech short positions via FNGU is likely not far off.
So too restoring profitably-sold positions in TZA to re-affect a general hedge or few.
Tesla
On September 25:
I’m doubling my 1/4 position in TSLQ, a Tesla short ETF, to a 1/2 position.
My cost so far is $46.59, and it closed today at $32.89
With that 2nd 1/4 position, my average became $40.02 for a 1/2 position.
Recent headlines:
Man vs. Musk: A Whistleblower Creates Headaches for Tesla An employee who was fired after expressing safety concerns leaked personnel records and sensitive data about driver-assistance software
Ford slashes electric F-150 plans in ominous sign for EV market
Despite markets overall, and popular tech darlings specifically, spiking higher in the nearly 3 months since then, Tesla has churned sideways exhibiting remarkable relative weakness.
TSLQ closed today at $33.09 and I’m adding another 1/4 position tomorrow to increase my Tesla short to 3/4 of a position.
Gold
A few weeks ago, I stated:
With Javier Milei the newly-elected President of Argentina, many more people will start to hear about real money - gold - versus the debt notes or digital tokens of governments and central banks which are popularly miscalled “money”.
Examples were previously made of the Argentine peso vs. gold in May and October.
Recent headlines:
"There Is No More Money": Milei Announces 54% Devaluation Of Argentina Peso As "Shock Therapy" Plan Begins
Javier Milei Takes a Chainsaw to Argentina’s Gov’t, Eliminating Half as Promised
Here’s a 1-day chart of gold vs. the Argentine peso.
Again, that’s a 1-day chart.
One. Single. Day.
A 121% jump.
In one day.
Here’s a 5-year chart, showing gold up about 27x vs. Argentine peso:
With gold back above $2000 USD today I’m adding more gold.
Do I know it won’t go lower? Of course not!
I do know that no matter how many national elections are held in the U.S., Canada, Argentina or anyplace else, it’s an immutable truth that pigs are pigs, history repeats, and only gold is money.
With that as my guiding light, I definitely owe it to my future self to increase already considerable gold holdings.
This time I won’t add more GROY however. Extreme situations call for extreme measures, and today that means making the gold “one and done” a “two and done”. Or, two ideas and six positions (so far). Call it “inflation”.
To the existing 4 GROY positions I’m adding 2 (two!) positions in GLCC.
Horizons Gold Producer Equity Covered Call ETF - GLCC - yields 11.6% - https://horizonsetfs.com/ETF/glcc/
GLCC closed today at $23.90
These are its current top-10 holdings:
If it goes lower I’ll eventually buy a LOT more, possibly at an even higher yield.
Risk? Yes, trusting incompetent malfeasant grifters to protect my best interests is super risky. I’ll take market risk over that any day.
Trying to make a point here, being as strident as I can be. Close to half the posts on my substack make the case for gold directly, while most of the rest make the case indirectly.
If you’re new here, try to catch up quickly.
If you’ve been reading awhile but aren’t convinced, no amount of links will help. Perhaps memes can shed a little light.
Bonus Headlines:
Westinghouse Sees US Demand for New Large Nuclear Power Plants Utilities in talks for Westinghouse AP1000 reactors, CEO says Demand growing for nuclear in clean-energy transition
AI Isn’t So Smart, Its Stock Picks Lag Behind the Market