Nick Hodge – Mixed Macro Signals, And Strength In Energy Commodities Like Oil And Uranium
Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins us to review the current macroeconomic landscape, and then delves into the energy commodities of oil, copper, and uranium, as well as a look at the precious metals sector. We start off reviewing the mixed economic data, where he stills sees concerning data being overlooked by many more overly optimist generalist market participants, and thinks a recession is still very much on the horizon in the medium-term.
We then have a broad discussion on how commodities and resource stocks are setup, with more of a focus on the energy sector. We start off reviewing oil and the oil resource stocks, and how Nick has been trading the move utilizing the sector ETFs of (XLE) and (XOP). Next we compare what the rise of oil may be signaling in the more short-term, versus the medium to longer-term contrasting market signals that Dr Copper may be predicting. We discuss the bullish sector fundamentals for nuclear power and thus uranium demand, and Nick provides some technical and momentum consideration with regards to the uranium mining stocks.
Lastly, we wrap up with the precious metals, where he points how resilient gold has been in the face of many macro headwinds, which he sees as a net positive, despite the yellow metals rangebound price action. This leads to a discussion on why he likes the quality gold developers and producers at this point in the cycle, and reviews the profitable trade he and his subscribers had recently trading the ranges in Artemis Gold (ARTG). Despite the rangebound prices, it appears gold is still sniffing out some kind of market event in the medium-term, which could bring more money in off the sidelines or rotating out of other sectors from a larger pool of investors.