Quiet day on the Canadian Markets today as US and UK markets closed for holidays. Big news out of Asia is that the North Koreans are out conducting Nuclear tests, which could cause some instabilitiy in the financial markets. On the other hand, could be good for Uranium stocks which I am still bullish on. I own Paladin Resources (PDN.TO), which is a producer of Uranium and currently its up 47% since I purchased it. I believe its one of the premium names in this space, along with Uranium One (UUU.TO). I prefer Paladin since its a producer and can take advantage of rising spot prices.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aDvFGfT4ejbA
Oil traded down to the $61 level, holding steady above $60. My short USD/CAD trade is still very much intact and I am still very bearish on the US$, US bonds and US stocks. Anyone holding US$ assets should reconsider their holdings and move it into either Canadian assets or foreign asset classes. I am holding some US stocks, but have currently hedged that by way of shorting the US$. As I said previously, I will consider selling these names in favor of more commodity related names in Canada.
Oil traded down to the $61 level, holding steady above $60. My short USD/CAD trade is still very much intact and I am still very bearish on the US$, US bonds and US stocks. Anyone holding US$ assets should reconsider their holdings and move it into either Canadian assets or foreign asset classes. I am holding some US stocks, but have currently hedged that by way of shorting the US$. As I said previously, I will consider selling these names in favor of more commodity related names in Canada.
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