TIB - An Investors Journal #793 - Marijuana, Uranium, Oil Refining, Aerospace/Defense, US Semiconductors, Silver Mining, ASX Stocks

Records for the Dow and S&P 500. Uranium, silver, gold and nuclear keep moving. A good week to stand still a bit and to start planning trimming down.

Portfolio News

In a week where S&P 500 rose 1.6% and Europe rose 1.4%, my pension portfolio rose a whopping 4.2%. Canada up 6.25%. Japan up 3.25%. US up 15.2% with largest share from Oklo Inc (OKLO) options with the underlying going up 35% in the week. Those Oklo options accounted for 20% of the week's total move. The good news is one tranches will be exercised next options expiry with another due in May 2026.

Big movers of the week were Western Uranium & Vanadium Corp (WUC.CN) (54.7%), AdAlta (1AD.AX) (50%), Rush Rare Metals Corp (RSH.CN) (43.7%), Azincourt Energy Corp (AAZ.V) (42.9%), Forsys Metals Corp (FSY.TO) (35%), ASP Isotopes Inc. (ASPI) (33.4%), Myriad Uranium Corp (M.CN) (28.4%), Power Minerals (PNN.AX) (26.4%), American West Metals (AW1.AX) (26%), Starr Peak Mining (STE.V) (25.9%), NuScale Power Corporation (SMR) (25.7%), Dateline Resources (DTR.AX) (25%), Alligator Energy (AGE.AX) (24%), BPM Minerals (BPM.AX) (23.5%), Westwater Resources (WWR) (21.7%), Yunnan Tin (000960.SZ) (21.3%), Builders FirstSource (BLDR) (19.1%), Hecla Mining Company (HL) (19%), Standard Uranium (STND.V) (17.6%), ERAMET S.A. (ERA.PA) (17.3%), Lightbridge Corporation (LTBR) (17%), Coeur Mining (CDE) (16.2%), Lotus Resources (LOT.AX) (16.2%), OM Holdings (OMH.AX) (16.1%), Lynas Rare Earths (LYC.AX) (15.4%). Geiger Energy Corporation (BEEP.V) (14.3%), Laramide Resources (LAM.AX) (14.3%), Largo (LGO) (13.3%), Elevate Uranium (EL8.AX) (13.3%), Northern Dynasty Minerals (NAK) (12.8%), Uranium Energy Corp (UEC) (12.6%), Centrus Energy (LEU) (12.4%), Loop Industries (LOOP) (12.3%), CGN Mining Company (1164.HK) (12.3%), Delivra Health Brands (DHB.V) (12.2%), Novo Nordisk (NVO) (12.2%), DevEx Resources (DEV.AX) (11.8%), Lightning Minerals (L1M.AX) (11.5%), Arafura Rare Earths (ARU.AX) (11.3%), Mitsubishi Heavy Industries (7011.T) (11.1%), Panther Metals (PNT.AX) (11.1%), Stroud Resources (SDR.V) (11.1%), Glencore plc (GLEN.L) (10.7%), Stuhini Exploration (STU.V) (10.7%), IsoEnergy (ISO.TO) (10.4%), Lifestyle Communities (LIC.AX) (10.1%)

A massive list of big 46 stocks in the big movers driven hard by surging commodities - from the top - uranium (15 stocks - 10 of these are explorers), nuclear tech (5 stocks), alternate energy (7 stocks), gold/silver mining (9 stocks), rare earths (3 stocks), marijuana (1 stock).

US Markets were into setting records - record - pullback - record. Venezuela changes driving oil stocks in the Dow was a big contributor.

Crypto Drifts- Well the Big Coins

Bitcoin price pushed higher a bit and then turned over finishing the week 1.7% lower than the open with a peak to trough range of 5.9%. Failed the test of the resistance line at $93.4 k

Ethereum price pushed higher and then backed off a bit finishing the week 1.1% lower than the open with a peak to trough range of 7.7% - could be cycling higher on a 4 hour chart.

Hive (HIVEBTC) found buyers at the front of the week with a 20% pop - giving away half.

Solana (SOLETH) pops 7% on the filing for a Solana ETF by Morgan Stanley

Cosmos (ATOMBTC) continues the move started the week before with another 20% rise - making 34% from the turnaround

Chiliz (CHZBTC) adds another 18% pop to increase the run from November lows to 121%

Polygon (POLBTC) continues its rise too on the back of new payments functionality integrating stablecoins

Nuclear Energy Holdings

A few changes in holdings - buy and sell on ASX plus one small add in Canada and a massive 6.4% jump in valuation - heaps more when one adds in options action

Mix of holdings has a few changes - shuffling really led by 0.4 point jump in leader Cameco Corp (CCJ). Denison Mines Corp. (DNN) moves up a place each into slot 4. IsoEnergy Ltd. (ISO.TO) moves up a place into slot 9 and Centrus Energy (LEU) joins the top 10 in slot 10 displacing Silex Systems (SLX.AX). Share of portfolios moves up over a point to 35.7% - never did I thing this sector would get close to double the initial 20% weighting. Notable is the share of Others goes up over half a point. - he list of big movers is the clue - lots of money moved into explorers this week

Holdings by stage - a few small moves - biggest change is in Technology - up 0.8 points after a few soft weeks

Alternate Energy Holdings

One disposal and a 2% increase in valuations

Mix of holdings sees a few ranking changes - Westwater Resources (WWR) moves up a place into slot 4 and Largo (LG) moves up a place to slot 6. Leader JinkoSolar (JKS) drops nearly a point but still leads

Share of portfolios dropped a little even though portfolio value went up.

Bought

Tilray Brands (TLRY): Marijuana. Rounded up holdings in personal portfolio after share consolidation left an odd lot. Wrote covered call for 3.4% premium with 23.8% price coverage - 10 days only.

Premier American Uranium (PUR.V): Uranium. Deployed proceeds from Paladin Energy (PDN.TO) sale in small managed portfolio to this Canadian listed American uranium explorer.

Grand Gulf Energy (GGE.AX): Namibia Oil/Helium. Bought a parcel in personal portfolio to average down entry price. Next Investors idea predicated on the potential for offshore oil in Namibia. Am really looking for the exits - just needs a small penny stock type move - stock has appeared in big movers list seven times since purchase. Why think this way? This is what I wrote in

Business also operates a helium project in Utah and oil wells in Louisiana and oil projects in Colorado. Namibia feels like a distraction

This is the latest update from the September 2025 ASX Quarterly Report

Pretty much what I said in April 2025 - not a very focused team - read the website and the focus seems to be the helium in Utah. The oil permitting negotiations with Namibian Government are still ongoing - that is 9 months now. And the company is looking at other development ideas.

Valero Energy Corporation (VLO): Oil Refining. Saw a tweet suggesting Valero Energy (VLO) could be a big winner from the resumption of oil flows from Venezuela as it is already placed refining heavy crude.

Bought a small parcel of stock in pension portfolio at the open. Later in the week added a 175/165 credit spread offering 21% ROI with coverage of 9.3%

Let's look at the chart which shows the sold put (175) as a dotted red ray and the bought put (165) as a red ray with the expiry date on the right margin - this is a 4 hour chart. Market gapped up on news of the Maduro arrest on the expectations of increased heavy oil supply for Valero refining. The spread strikes are chosen to straddle the gap - a chance to buy at the top of the gap below current prices and protection if price chooses to close the gap.

iShares U.S. Aerospace & Defense ETF (ITA): Aerospace/Defense. Defense stocks started to move when Trump requested from Congress $1.5 Trillion for Defense Budget. Added a small parcel of stock in pension portfolio rather than trying to start picking individual winners and losers. Only current exposure to the sector is via Rolls Royce (RR.L). Also added a 220/210 credit spread offering 26% ROI with coverage of 3.4% in last hour of trade (Jan 8)

Let's look at the chart which shows the sold put (220) as a dotted red ray and the bought put (210) as a red ray with the expiry date beyond the right margin - have picked a one hour chart to show the price move from Donald Trump's $1.5 trillion defense post on Truth Social (which was made after market close on Jan 7). Price popped 5% at market open (see the gap above the point of the blue arrow). When Congress rebuffed the request, price pulled right back. The credit spread strikes were chosen to be below this spurt and the protective bought put is below the previous low. The thinking is that Donald Trump has a plan and he will get enough Defense Budget to keep the price above the spread. If his plan does not work price will plummet below the bought put level (210) in the short to medium term - hence protection is placed there.

Advanced Micro Devices (AMD): US Semiconductors. Assigned on a sold put in pension portfolio. Breakeven $185.70 vs $203.17 close (Jan 9) - one credit spread and 2 sold put cycles

Sold

Paladin Energy (PDN.AX): Uranium. Reduced position size in pension portfolio - 9.7% blended loss on FIFO basis for positions created in 2024 - last two tranches of that were profitable. On a LIFO basis profit would be blended 49.3% profit since November 2024/October 2025 - that last tranche was the SPP. Did get myself confused doing the accounting - thought I had sold the whole holding - bought back half later in the week at 1.1% lower price than the sale. Accountant will book the sale on a FIFO basis

Peninsula Energy (PEN.AX): Uranium. Reduced position size in pension portfolio - 60% blended loss on FIFO basis since October/December 2024. Going to book this on a LIFO basis to trim the SPP allocation which was a larger slice than normal - 140% profit since September 2025.

ASX Portfolio

The segment reports trading in ASX fractional share portfolio. Trade entries are made based on stock screens looking for undervalued stocks (price to book, price earnings, price to sales) that are showing technical signs of breaking a downtrend. Exits are made at 35% profit or 25% if 52 week high is lower than 35% advance. New buys are in $500 lots. Scale ins and top ups in $250 lots

Note: This is a trading strategy still under development. A few of the sales go against the big themes in the core portfolios - selling stuff being held elsewhere. Targets were raised for some of the big themes a few months back - gold, lithium, uranium.

New Buys

Myer Holdings (MYR.AX): Retail. Dividend yield 7.29% - ex date coming up later in January. A 2nd time buy.

Chart shows price falling over from 2024 highs (it is a seasonal business) - trying a few recoveries without offering signals and then bottoming out off support. Plenty of scope to reach 35% target well before the 52 week high

Orezone CDI (ORE.AX): Gold Mining. The company has gold mining interests in Burkina Faso - not my favorite geography to invest in but a chance to replace some of the gold mining stocks recently sold. And there is a big enough gap to the most recent broker target to meet the gold target profit.

The chart is a bit weird - this is the ASX listing of CDI's and it looks like there was a reverse takeover of another stock in August 2025 - the stuff to the left is not relevant. What is clear is a rising trend after the big drop - and the signal came about as the moving averages still have the history of the drop in it. Only found this out writing this trade up.

Now look at the Toronto listing chart - no big drop - and this would not pass the stock screens now. The blue arrows show when the signal would have arisen. The screens are on ASX listed stocks only

Appen Ltd (APX.AX): Digital Media. Half size - business has some challenges from AI competition

Chart goes back to the first time entries and shows the first profitable exit driven by the 128% increase from the last tranche. Price only has to move as high as the last spike to make the profit target - never mind the big highs before that.

Top Ups

OM Holdings Limited (OMH.AX): Base Metals. Dividend yield 1.18%

Chart shows price did not carry the momentum around the last entry (where the arrows are) dropping in a drift like fashion. Looking for a recovery back to the last support level (now a resistance level). Business operates in manganese mining and smelting - an important base metal for steel manufacture

Silex Systems Limited (SLX.AX): Uranium Enrichment. Auto-invest purchase was made before the US Department of Energy contract awards

Global Laser Enrichment (GLE), the exclusive licensee of the SILEX uranium
enrichment technology, was notified by the U.S. Department of Energy (DOE) that it has been selected for an award, subject to final contract negotiations, of up to US$28 million to advance next generation laser-based uranium enrichment technology. GLE was not selected by the DOE for a US$900 million award under the Low Enriched Uranium (LEU) Request for
Proposals.

Market smashed price - chose to top-up the holding at the smashed down price rather than waiting another month.

Nufarm Limited (NUF.AX): Fertilizer. Averaging down.

Chart shows price falling off a cliff after earnings announcement in Q2 2025 finding a bottom and trying to recover and then heading back to the same bottom - a bit far apart to classify it as a double bottom. Now having made a higher low, looking for a higher high and a move back toward a 52 week high a few months from now - maybe a breakeven exit. Chart does not show prior entries - two trades before the falling over.

Sold

Civmec Limited (CVL.AX): Engineering Services. Closed out at profit target for 42.7% profit since June 2025.

One chart to show the strategy in action. Price reverses after a moderate 50% fall - this one is a fall on earnings rather than a downtrend. Better if price reverses off a level - this one goes back to the previous downtrends reversed (two touches there were). Moving averages cross over - blue line above red line. Wait for the one month high - the blue arrow is the length of one month. The previous high after the crossover was less than one month. Exit when the profit target is reached

29Metals Limited (29M.AX): Base Metals. Closed out at 52 week high target for 64% blended profit since April/September 2024/May 2025. Had held back selling this at normal profit target when base metals started to run.

ioneer Ltd (INR.AX): Lithium. Sold at revised profit target for 67% profit since August 2025.

Nickel Industries Limited (NIC.AX): Base Metals. Closed at 52 week high target for 26.6% blended profit since March/September 2024/May 2025.

Hedging Trades

Stroud Resources (SDR.V): Silver Mining. Scaled into holding in pension portfolio - maybe something of a FOMO trade as price was 5.2% higher than the last batch sold at in December. Stock has been on the big movers list and silver is hitting all time highs.

Stepped back chart comparing iShares Silver Trust (SLV - the bars) to 6 other Canadian listed silver miners the portfolio holds. Stroud Resources is top of the comparatives - maybe better buying the laggards. Or at least doing some analysis of assay results across the park. For next week.

Income Trades

Covered Calls

Seven covered calls written across four portfolios - all US

Loop Industries (LOOP): Specialty Chemicals. Managed to duplicate covered call sale in small managed portfolio without shares to cover a call. With price closing at $1.12 (Jan 6) do not think need to worry about a 2.5 strike call going to assignment.

Naked Puts

Sold puts happy to own at lower prices

• Tilray Brands (TLRY): Marijuana. Return 2.75% Coverage 22%
• Casino, Guichard-Perrachon (CO.PA): French Supermarket. Return 25% Coverage 34.5%
• ERAMET (ERA.PA): Base Metals. Return 4.3% Coverage 0.4%
• Hecla Mining Company (HL): Silver Mining. Return 0.94% Coverage 17.2%
• Gevo Inc (GEVO): Specialty Chemicals. Return 5% Coverage 0.1% - nice discount if assigned.

Sold puts on stocks that might get assigned on covered calls

• Sprott Uranium Miners ETF (URNM): Uranium. Return 6.45% Coverage 0.6%
• Denison Mines Corp (DNN): Uranium. Return 6% Coverage 7.3%

Kicked the can down the road on sold puts that cold be assigned

• Bitmine Immersion Technologies (BMNR): Crypto Mining. 26% profit on buy back. 15% cash positive
• Robinhood Markets (HOOD): Financial Services. 5.7% profit on buy back. 89% cash positive - always pays to out of exercise range on this stock on down days - look at that implied volatility.

Credit Spreads

A few new credit spreads

• NVIDIA Corporation (NVDA): US Semiconductors. ROI 73.9% Coverage 0.9% - a bit tight.
• iShares U.S. Aerospace & Defense ETF (ITA): Aerospace/Defense. ROI 25.9% Coverage 3.4%
• Valero Energy Corporation (VLO): Oil & Gas Refining. ROI 21.2% Coverage 9.3%

With the kicking the can down the road and assignment of Advanced Micro Devices (AMD) exercise risk is low - covered at least 3 times. Plus am expecting a huge raft of covered call assignments next week

Resources

Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas

Images: I own the rights to use and edit the Buy Sell image. News headlines come from Google Search. All other images are created using my various trading and charting platforms. They are all my own work

Tickers: I monitor my portfolios using Yahoo Finance. The ticker symbols used are Yahoo Finance tickers. Crypto tickers come from TradingView

Charts:

- this is a free charting package. I have a Pro subscription to get access to real time forex prices

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January 5-9, 2026