Today I tried fishing with some out of the money covered calls on Energy Fuels at the ask. No Bites. It was a red day for $UUUU today anyway. Buy the Fear, Sell the Greed… or Buy the Red, Sell the Green. Have a great night.
First Majestic ($AG) was green today so I wrote some out of the money covered calls (sell into greed). I used the proceeds to buy more Alexco Resources ($AXU), Energy Fuels ($UUUU) and Denison Mines ($DNN) which were all having red days (buy into fear). Have a great night.
Today I mostly sat on my hands, but bought some more Denison Mines $DNN and went fishing with some out of the money covered calls on First Majestic $AG and Energy Fuels $UUUU at the ask. No one took the bait. There’s always tomorrow. Write Green and Buy Red. Or, put another way: Write the Greed, Buy the Fear. Have a great evening.
I initiated a small position in Denison Mines $DNN today. Looking forward to seeing what David Cates and the company can accomplish when uranium takes a turn with Wheeler River and the other assets they have. Have a great night.
#Silver was in beast mode today – maybe it was #coronavirus, maybe it was the FOMC meeting yesterday, maybe it was just oversold?
#Shipping continues to get pommelled like a boxer in the ring with Mike Tyson – mostly due to #China and #coronavirus… however rates are still above average and companies should report good earnings here shortly
#Copper: pommelled too. #China #coronavirus
#Biotech is rocking for the same reasons above: #China #coronavirus
#Uranium: Nuclear winter.
No buys or sells today. Sat on my hands. Have a great evening.
Energy Fuels went deep into the red this morning, so I bought more. Thats all. Have a great day.
Today I sold some Inovio Pharmaceuticals ($INO) with the stock being temporarily overbought because of the coronavirus scare. Its had an insane run! I still have some Feb 21 covered calls that are now in the money because of the recent run up – we’ll see how those play out as they near expiration on February 21st. I used the proceeds to purchase more Energy Fuels ($UUUU) – a smaller US-based uranium company. I also wrote some out of the money covered calls on Cameco ($CCJ) with a Feb 7th expiration and a $9 strike price. I used the proceeds to purchase more Energy Fuels ($UUUU). Energy Fuels has been absolutely hammered here, and while it may go lower, it feels like capitulation. I sold some out of the money Feb 21 $5 covered calls on Nordic American Tankers ($NAT) and used the proceeds to buy additional shares of Nordic American Tankers ($NAT) to increase my position there. I don’t believe the tanker bull market is finished and tankers seem to be oversold here with the recent coronavirus news and its impact on China. We’ll see what happens there. All eyes will be on the FED tomorrow as they give their statement to the market.
Write/Sell the Green. Buy the Red.
Have a great night.
Today I wrote some First Majestic $AG Jan 31 $11.00 Calls, bought some Alexco $AXU with the proceeds and tried to write some Cameco $CCJ Jan 31 $8.50 Calls but my bid expired. I will try the $CCJ again tomorrow if its a green day. $INO continues to moon shot from #coronavirus – calls busted through and then some.