We are starting to see some green shoots in uranium equities like $UUUU. We are looking to see the MACD crossover next. We are looking to write the Feb $8’s tomorrow and buy more $UUUU, $DNN and $ANY with proceeds.
Sphere 3D ($ANY)
Bitcoin is showing some green shoots of its own. We will be looking to buy more $ANY here.
Elon Musk sent crypto soaring today with his announcement that Tesla bought $1.5 billion in bitcoin. Also, uranium continues to catch a bid with stocks trending much higher today on the back of gains on Friday.
Our crypto kinetic rocket Canaan ($CAN) was up big today, along with our uranium kinetic rockets Energy Fuels ($UUUU) and Denison Mines ($DNN).
Finally, Denison did announce some ramp-up of its Wheeler River evaluation plans today here.
Well, not much is going on in the Uranium and Silver markets these days. Uranium and Silver are rangebound and don’t seem to want to do much of anything these days. For us, thats OK since part of our kinetic rockets strategy is writing out of the money covered calls – which will expire without being assigned if this sleepy action continues.
In other news, bitcoin seems to be retracing some of its surge as of late. As of this writing its at $30,943. We would love to see it retrace all the way back to $23K – for us, that would be go time, however that may never happen. We’ll see.