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.

I had purchased additional shares of BAS in late July through early August, between $11.55 and $12.40. Those shares were up 30-40%, so I sold off half of them. The remainder is added to my permanent position.

I love the name, but having followed it for quite some time, it’s normal deviations are in the 20-30% range. I’m happy to see it breaking out to new highs, as that jives well with my own expectations. While buying the initial stake in BAS, I called for a price target of $18 at the time, and feel this company is well positioned to experience above average growth for the next 5-10 years.

However, back to the wild price swings, I don’t trust this stock at all. So taking a bit of money off the table makes sense. If I can’t buy back in lower, I still make a fat spread on a major position. But in all likelihood, the stock craters back to $14, and I load up all over again.

My current positions are CCJ, BAS, HCLP, AEC, MAA, NRP, RMCF, TSLA puts, and physical silver.

I bit into the 8% selloff this morning. By the time I got a nibble, it was a 6% selloff.

I don’t expect this to last. The earnings miss is a non-issue for a small company in a rapidly growing industry. And the hit was largely one time items that shouldn’t be a recurrent problem.

HCLP is a buy here on any dip. Especially as validation of the growing demand for frac sand continues to come in.

I added a percent to the TSLA puts at the $100.00 strike price.

If the selloff continues, expect TSLA degenerate longs to be butchered.

Out all of the hedge; it was a nice bounce.

No more games in the oil sphere for a while.

I’m sitting around, being mostly quiet, while I chip my way through a rock pile of work that has managed to errupt on my desk.

I’m doing nothing, because that’s the best thing to do.

The Federal Reserve tricked you. Just admit it. There was never any intention to taper. Taper wasn’t even a real word, until they invented it and bribed the dictionary. Everything you knew was a lie.

Now, you’re petrified of a government shut down and the debt ceiling. People, despite your predilections, the GOP isn’t stupid. They’re pretty good at counting support, actually. And votes. Your party doesn’t run train for four decades by being moronic. Republican veterans are even now curb stomping the young and impetuous Tea Party losers, with flare and grace.

“RINO”s will jump ship and join Democrats in a grand bargain. Funding will be found, the debt ceiling will be raised with some small “moral victory” for the GOP, by way of future “future spending cuts”, or some such nonsense – and life will go on.

There’s no reward here for Republicans to try and be disruptive. There’s a lot of reward to just let this ship hit the iceberg, as most of the GOP have spent the last three years commandeering the lifeboats.

The debt ceiling is a sensational line of storytelling. But this is only being discussed because journalists are largely group-chatter monkeys. The causal storyline aside, I’m long and don’t care, because the Fed has my back. ~$500 billion annually will do that to a man.

I nibbled on CCJ today, because it’s cheap. My cash position stands just higher than 20%.