Joel Elconin – Volatility, Tech Selloff, and The Future Of ‘Buy The Dip’
Joel Elconin, Co-Host of the PreMarket Prep Show joins us to talk market sell off, tech sell off, and the possibility of “buy the dip” being a strategy of yesterday.
We kick off by analyzing the highly volatile market activity in the S&P 500 on Friday, touching on the 120-point spread and the strong close. Joel offers his take on this volatility from a charting perspective.
The conversation then shifts to the tech sector, with a focus on the Nasdaq and specific stocks like Nvidia and Tesla, highlighting their critical support/resistance levels and investor sentiment. We further explore the apparent rotation from growth stocks to value stocks, citing the performance of sectors like insurance and finance, and big names like Berkshire Hathaway. Joel elaborates on the changing market dynamics and the shift towards defensive sectors.
The discussion also covers the broader implications for market leadership and the impact of geopolitical factors and economic policies. Finally, Joel offers his perspective on current investment strategies, advocating caution and a ‘sell the rip’ approach given the market’s uncertain environment. We touch on the traditional ‘buy the dip’ mentality and debate whether it still holds value in today’s market.
Click here to visit Joel’s PreMarket Prep website.
CEO walks away from the mess.
The CEO didn’t “walk away…” the Board of Directors sent him walking.
“On March 2, 2025, the board of directors of enCore appointed Robert Willette, the current Chief Legal Officer, as Acting Chief Executive Officer, effectively immediately. Mr. Willette succeeds Paul Goranson, who is no longer serving as enCore’s Chief Executive Officer or as a member of the board of directors.”
Encore Energy was definitely under pressure today from their weaker-than-expected 4th quarter operations and financial report, and some didn’t understand the changes made to their accounting method.
Also, it was a rough day in the uranium sector overall with Ur-Energy was down 12%, UEC down 10%, NexGen and Denison both down around 8%. Energy Fuels down 6.5% Just ugly action sector-wide.
The extreme selling got way overdone today, because at one point EU was down 46% (which is illogical) because the value of the company did not get chopped in half in one day. The results weren’t that bad, so I added another tranche to my position in the weakness, but it always could just keep dropping into the market F.U.D.
I’m going to write a substack article about this tonight.
Okay, the article I read left that impression,
I did wander if it was a little bit of both (both him leaving and him being sent on leave by the board simultaneously). Sometimes these C-suite shakeups are quite jarring to the stock price. It’s really a shame, because Paul appears to have been quite well-respected in the industry, and I’m a current shareholder only wishing the best for the company.
This does remind me of when Argonaut sold off really hard on the news that they had cost overruns at Magino and the board got rid of Pete (the founder and CEO of Argonaut) with just a mention of it in one line in their press release, and never really explained or unpacked it. That was quite a shakeup and hurt the stock price for a while (in fact it never really recovered). I did well personally buying back into Argonaut after a long hiatus just a few weeks before the Alamos takeover of Argonaut; but am cognizant that many longer-term investors never really recovered. Really, the company was never really quite the same after Pete left, and it was their slow decline.
Hopefully, we don’t see a predatory uranium producer come in try and acquire enCore while they are struggling here, as they are still a solid company. I’m still holding onto my position, and added a bit today, because overall I’ve done fantastic in this stock, over the last few years, with a few consecutive winning trades in it. However, this current enCore trade is now underwater for me…. so that’s a real bummer, after a string of good wins in EU.
>> I have a great deal of confidence here with Willam (Bill) Sherriff at the helm as the Executive Chairman. I’ve met with him face to face several times now, as well as hosting him here on the show for interviews, and he is a class-act, a straight-shooter, and brutally honest and candid. I’m going to work to get him back on the show soon to discuss the pathway forward for enCore, as they are still one of the few handful of US companies actually in uranium production.
Did The Nuclear Renaissance Just Get Canceled?
Excelsior Prosperity w/ Shad Marquitz (03-03-2025)
https://excelsiorprosperity.substack.com/p/did-the-nuclear-renaissance-just
Ex – I drew a line this morning: https://ibb.co/DgP1RqT3 … Support? BDC
Encore Energy(EU) resigns. Maybe more downside coming?