Connect with us

Hi, what are you looking for?

Trading Tips

Nick Hodge: I’m Looking to Deploy Cash in Uranium, Gold and Copper

Speaking at the New Orleans Investment Conference, Nick Hodge, editor of Daily Profit Cycle, said he has about one-third of his portfolio in cash right now, and he’s hunting for uranium, gold and copper ‘trophies.’

‘I’m using this opportunity for next two to three quarters, because I’ve been reserved with one-third cash to really identify what I believe are going to be trophies — high-quality companies that I want to add to my portfolio ahead of what I see as a pretty booming and strong resource market post-recession, which I still expect to come,’ he said.

Looking at uranium, Hodge thinks the current cycle is in its third or fourth inning. He’s been selling along the way in order to reduce his cost basis and profit, and now his strategy includes diversifying into less risky positions.

In terms of gold stocks, Hodge believes they are set to shine in the future. He thinks investors will get interested once the yellow metal can stay consistently above US$2,000 per ounce, and sees strong underlying reasons for that to happen. Beyond geopolitics, gold is also likely to be buoyed by rising debt and a turnaround from the US Federal Reserve.

‘I think once (a pivot) finally does come in 2024, then you’re going to see a very robust gold bull market, and the equities will finally follow,’ he said, adding that right now investors are able to get yield in other places.

Copper is another metal that isn’t working right now, but has potential — Hodge noted that while the economic slowdown and recession expectations have hurt its prospects, the red metal’s long-term fundamentals remain robust.

‘I think we’re going to get a good copper bull market post-recession,’ he commented.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...