It’s nothing too severe – less than 1% – but I’m getting wacked to start off 2014 nonetheless.

The selloff in my account is led by HCLP, as mediocre fund managers caught padding their positions, trying to save their unspectacular careers, let go the Potemkin equity stakes.

Silver caught a nice bounce into the first of the year, but we have been here before, have we not? I’m mentally prepared for silver to go to $0.00…being shelled out for free at every street corner. Why not? It has no utility, after all…excluding all its utility.

My positions are AEC, MAA, NRP, HCLP, BAS, CCJ, RMCF, UEC (small), BALT, physical silver, and some TSLA puts (a third of which are about to expire worthless on the 18th of this month).

I bought some shares of UEC for $1.71. This is not a full position. It is just a couple percent of my account.

I consider this a leveraged addition to my CCJ position. That CCJ position is quite large, banking on a recovery in uranium. I wanted to add some more, but diversify a little, with the potential for a big payoff.

UEC recently secured a finance deal and have done very well bringing operations on line. They’re exceptionally small, and I cannot condone buying them in size. Small fluctuations could snuff them out.

However, I am a believer in uranium. Forces around the globe are converging. My main play is CCJ, but if pricing recovers, UEC will skyrocket in ways CCJ could only dream of.

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Update: here’s UEC’s capital spending on projects. Look at all the projects they’ve brought online in just a few years. There are good things coming down the pipeline.