Minneapolis

I’m writing today from Minneapolis, where I had a week-long visit with my brother and a job interview. It’s interesting to consider what it would be like moving out here. I’ve lived in many parts of the country in the past including Hammond Indiana and upstate New York which also have cold snowy winters. Compared to Southern California, it certainly has a lot more interesting places you can walk to and a lot less traffic as well. Who knows what the future will hold, but I’m optimistic about this change.

As for investing, the markets certainly haven’t been dull. In the last week I added a Jan 2024 call in DOCN when it dipped below 90, though I’ll likely sell it soon as it may be nearing the end of its run before a correction. I also bought more Uranium exposure on the dips and sold some out of the money covered calls on it with today’s rally. I also added some more US Cannabis exposure on some dips though it’s hard to tell how it balances out without my laptop.

Precious metals miners are having another nice rally. I haven’t been adding much lately (last was a bit of DSVSF last week on solid news from exploration- the kind of thing you hear about when you have a paid service that tracks precious metals and Uranium miners. It’s Steve Penny’s Silver Chartist Report if anyone’s interested. It’s not clear that precious metals have bottomed yet, though with sentiment today I wouldn’t be surprised if it has. These things turn when most people see no reason to own them after all. As for Uranium, Kazatomprom followed Sprott’s lead with another physical Uranium fund to help Jack up the spot price of Uranium and encourage the big utilities to start a new contracting cycle. I’m especially bullish on the large existing Uranium miners here, so I stick with CCJ and UUUU.

The most important things to consider in the stock market right now are the following:

1. Buybacks are back (lots of corporate buybacks scheduled which push the indexes higher)

2. November is exceptionally strong for stocks seasonally (October is significantly weaker)

This is from @Callum_Thomas who has a free weekly Chartstorm that’s worth subscribing to:

I’m not going to bother posting seasonality again because I did that in a few recent posts. I need to get to the airport soon, so I’ll sign off here. Happy trading.

About johnonstocks

I've been trading stocks since 2003, active on Motley Fool's discussion boards and using first Hidden Gems, then Global Gains. I no longer have the newsletters, but I keep up on the WSJ and read David Rosenberg everyday at gluskinsheff.com. Education: CFA level 2 candidate MBA-focus in Finance, Marshall, University of Southern California - expected Dec 2010. BS Mechanical Engineering, UC San Diego, June 2002
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1 Response to Minneapolis

  1. phusg says:

    All the best on your Minneapolis deliberations.

    Any thoughts on crypto? I remember you saying something about selling if bitcoin reached new heights at the end of October, did you stick with this plan or have you changed your mind?

    Personally I think with the succesful lauch of the bitcoin ETF we’re at a local hype peak so I sold half my ethereum.

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