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Shipping Uranium

Uranium and Shipping

Today I wrote some weekly out of the money covered calls on Cameco ($CCJ) as it was having another green day. I chased the bid rather than sitting on the ask, and in hindsight I should have been more patient. Live and learn.

I bought some more Energy Fuels ($UUUU) and Denison Mines ($DNN) with the proceeds of the covered calls.

As with Cameco mentioned above, uranium issues had a great day today. There seems to be some positive momentum with the sector which is a welcome relief to those of us who have suffered through the bear market for awhile.

Shipping issues were also up a bit today, and looking like they are stabilizing somewhat. Hopefully the worst of the coronavirus scare is behind us and China-dependent sectors like shipping and copper amongst others will start to rise again.

Remember, buy the fear, sell the greed, buy the red, sell the green. Have a great night.