After selling all my uranium stocks this morning due to the downdraft, I pretty much bought most of them back albeit a bit higher price than I sold for. I also added URG into the midst and let go of USU which didn’t performed as expected.
I also bought some BAS because I like Mr. Cain Thaler’s thesis as well as the forming of a Cup & Handle pattern. Don’t underestimate the Cup & Handle pattern, a breakout from the handle can become a runner.
Can you see the Cup & Handle pattern on BAS daily chart below?
Thanks Mr. Thaler for the idea! If BAS is a winner, all credit go to Mr. Thaler!
I also bought some GLOG. This one is a recent IPO (March 2012) and is a cheap alternative to buying LNG or GLNG based on market capitalization value. However, earning is tomorrow so I’m treading on the gambling side here. Despite the earning report tomorrow, I don’t want to chase this baby if the earning report does not have negative outlook. I like to own GLOG for long-term here since transportation of LNG (liquefied natural gas) is the future as far as I’m concerned.
Below is the daily chart for GLOG. Notice that it is getting ready to take out the June 20th high of $10.60. Or it could bounce back down; so this one is risky. Tomorrow earning report will dictate the direction here. I’ll add more if $10.60 high is taken out.
Currently, I’m heavy on energy in my portfolio:
27% Uranium based stocks (CCJ, DNN, ES, URG)
9% Natural Gas based stocks (BAS, GLOG)
9% Biotech (AMRN & EXEL)
11% LT Equity
44% cash
Good Hunting!
If you enjoy the content at iBankCoin, please follow us on Twitter
Trading journal update:
Added more GLOG.
Price action on DNN and ES were lackluster this morning and their daily chart look like they are topping out. So I sold them and watch them instead. Meanwhile, I also took profit on CCJ since it trading around July 5th high. Could be resistance. I will watch and see for possible re-entry.