Added Back To CCJ – 5% of Assets

I brought my overall cash position to 40% from 45%, bringing CCJ back up to 15% of assets.

Uranium prices are still rebounding and Japan restarts are rumored to begin shortly. I am not missing out on this trade after owning it for so long.

40% is conservative enough.

Uranium Prices May Have Finally Bottomed

I know, I’m sorry for the tap out title on this piece. It is spineless and cowardly. But I’ve gotten my hopes up enough times now, just to watch uranium prices breach new lows, that I will not tag along again.

It does appear, based on the very thinly traded reporting I have access to, that pricing for uranium fuel has increased dramatically in the past few weeks from around $28 per pound, to around $32 per pound.

This is of course nowhere near the $50 level it was at just a few short years ago. However, steps are to be taken incrementally. I want to see this hold up, then wait and see some more.

CCJ remains my only uranium play; I made a short trade in UEC for a wash earlier this year and decided the time was not right for the small miners.

My earliest prediction following the Fukushima Daiichi meltdown was that, if a V shape recovery could not quickly follow the price deflation, then at or around the three year anniversary would mark the recovery in nuclear fuel investments.

So far this year, those hopes have not been met. But there is still time; a few months later is not much off, and I could live with a year or two even…provided the rewards are rich enough.

The Melt Up Is Upon Us

There is no limit to the benevolence of my portfolio today. HCLP spurred out the gate and is now closing in on $70, +5.4% in the first half of today’s trading.

CCJ and BAS are second runners up. Most everything else is green, with only new half position PSEC and NRP breaking the pattern at the moment.

No one wants to hold short into the Labor Day weekend. Bears have been conditioned over the past five years that long weekends deal death to misers.

My account is up +2.3% today. I’m tempted to take a few sales at lunch, just to prepare for September (the biggest dick of all the months).

The world is my tainted oyster (which is only an odd statement if you knew that I don’t like oysters). Now, as you were.

CCJ Took A Downgrade

I was blasted today when one of my largest positions, CCJ, took a downgrade from Cowen. Why a firm pegging a position to “market perform” when they had it set at “outperform” (it never did) has the power to drop a stock 5% in a session…I have no idea.

Of course the biggest reason to fret about CCJ right now is their ongoing bloodsport with the Canadian tax man. But I’m not really catching wind of anything other than Seaking Alpha hit pieces to suggest the stakes have changed.

Maybe someone just felt like liquidating, eh?

My entire portfolio took a smacking today, and I am afraid we may very well be in the early stages of a correction. We feel top heavy.

Trade: Sold Shares Of CCJ Bought On 8/1, Retaining Core

On August 1, anticipating a looming bounce off of oversold levels, I bought some extra shares of CCJ for $19.30. I sold those for a small loss today for $19.10.

Just adding back cash – the market feels terrible and the extra cream to my position was supposed to be all about easy money.

Friday’s Purchases Working Hard Today

The buys of CCJ, HCLP and BAS I made before leaving for the weekend are all working today, up markedly.

Everything else I have is also pacing, as we reached oversold levels last week that warranted a strong bounce.

I’ll give you a small hint: I’m personally terrible at these short term inflection points. My style is very much long term allocation to the right place at no particular time. It works; sure I have no complaints on my own performance.

But even though I have no personal trading skills, I’ve still made a killing trading the past few years. How, you ask yourselves?

Why with the help of The PPT, of course.

The quality work of The PPT has enabled focused investors like myself to become well rounded performers. Where before I would have been limited to strictly my own strategies, I can now diversify my tactics to a trading pattern around those strategies, multiplying my profit potential.

It is a community where each of us outsources our strengths to one another. And it is high time you get off the fence and add a subscription.

Added Back To CCJ – 5% of Assets

I brought my overall cash position to 40% from 45%, bringing CCJ back up to 15% of assets.

Uranium prices are still rebounding and Japan restarts are rumored to begin shortly. I am not missing out on this trade after owning it for so long.

40% is conservative enough.

Uranium Prices May Have Finally Bottomed

I know, I’m sorry for the tap out title on this piece. It is spineless and cowardly. But I’ve gotten my hopes up enough times now, just to watch uranium prices breach new lows, that I will not tag along again.

It does appear, based on the very thinly traded reporting I have access to, that pricing for uranium fuel has increased dramatically in the past few weeks from around $28 per pound, to around $32 per pound.

This is of course nowhere near the $50 level it was at just a few short years ago. However, steps are to be taken incrementally. I want to see this hold up, then wait and see some more.

CCJ remains my only uranium play; I made a short trade in UEC for a wash earlier this year and decided the time was not right for the small miners.

My earliest prediction following the Fukushima Daiichi meltdown was that, if a V shape recovery could not quickly follow the price deflation, then at or around the three year anniversary would mark the recovery in nuclear fuel investments.

So far this year, those hopes have not been met. But there is still time; a few months later is not much off, and I could live with a year or two even…provided the rewards are rich enough.

The Melt Up Is Upon Us

There is no limit to the benevolence of my portfolio today. HCLP spurred out the gate and is now closing in on $70, +5.4% in the first half of today’s trading.

CCJ and BAS are second runners up. Most everything else is green, with only new half position PSEC and NRP breaking the pattern at the moment.

No one wants to hold short into the Labor Day weekend. Bears have been conditioned over the past five years that long weekends deal death to misers.

My account is up +2.3% today. I’m tempted to take a few sales at lunch, just to prepare for September (the biggest dick of all the months).

The world is my tainted oyster (which is only an odd statement if you knew that I don’t like oysters). Now, as you were.

CCJ Took A Downgrade

I was blasted today when one of my largest positions, CCJ, took a downgrade from Cowen. Why a firm pegging a position to “market perform” when they had it set at “outperform” (it never did) has the power to drop a stock 5% in a session…I have no idea.

Of course the biggest reason to fret about CCJ right now is their ongoing bloodsport with the Canadian tax man. But I’m not really catching wind of anything other than Seaking Alpha hit pieces to suggest the stakes have changed.

Maybe someone just felt like liquidating, eh?

My entire portfolio took a smacking today, and I am afraid we may very well be in the early stages of a correction. We feel top heavy.

Trade: Sold Shares Of CCJ Bought On 8/1, Retaining Core

On August 1, anticipating a looming bounce off of oversold levels, I bought some extra shares of CCJ for $19.30. I sold those for a small loss today for $19.10.

Just adding back cash – the market feels terrible and the extra cream to my position was supposed to be all about easy money.

Friday’s Purchases Working Hard Today

The buys of CCJ, HCLP and BAS I made before leaving for the weekend are all working today, up markedly.

Everything else I have is also pacing, as we reached oversold levels last week that warranted a strong bounce.

I’ll give you a small hint: I’m personally terrible at these short term inflection points. My style is very much long term allocation to the right place at no particular time. It works; sure I have no complaints on my own performance.

But even though I have no personal trading skills, I’ve still made a killing trading the past few years. How, you ask yourselves?

Why with the help of The PPT, of course.

The quality work of The PPT has enabled focused investors like myself to become well rounded performers. Where before I would have been limited to strictly my own strategies, I can now diversify my tactics to a trading pattern around those strategies, multiplying my profit potential.

It is a community where each of us outsources our strengths to one another. And it is high time you get off the fence and add a subscription.

Previous Posts by Mr. Cain Thaler