Five weeks ago I added short positions.
Now I’m closing the additional TZA position (a levered short on the Russell 2000 Small-Caps index) for a gain of 16%
For hedging, several positions remain: 1 TZA, and 3 FNGD (levered short on big tech), plus shorts in crypto, Tesla, and Disney.
On DIS (Disney) I’m lowering my stop again, now covering after a daily close above $86
I’m also closing the two additional URA (Global X Uranium ETF) positions.
One is up 18% in under 5 weeks, while the other’s up 21% in 2 months.
Considering the latter was purchased with proceeds from a BNKU position that had just gained 31% in a few weeks, that’s a massive compounded gain for such a short holding time.
It’s about process and prudence.
Remember my four P’s for success in speculating: Patience, Prudence, Process and Persistence.
We were patient waiting for ideal entry points; I was emphatic that the setup in uranium looked fantastic at the time. Persistence and process meant adding positions, and we did. Now process and prudence requires trimming back a bit.
I remain hyper-bullish on nuclear energy and the uranium sector going forward, while at the same time I’m passionate about setting a good example and proving a success record for free and in real time that few could ever hope to match.
It takes money to make money, and by reducing positions - long and short - there’ll be cash on hand for better setups ahead.