MM remains a fan of the uranium sector into 2024. Still, we won’t be afraid to take profits if PDN or any other of our positions reach our objectives, especially when considering increasing cash levels. We used PDN as an example here, and it probably killed its prospects of another squeeze into Christmas! Still, history tells us that equities often squeeze higher than expected if/when we see a “Santa Rally”, enabling the prepared to lock in some good prices.
- We are looking to increase our cash/defensive position into 2024, i.e. the Active Growth Portfolio only holds 3% in cash.
MM is targeting the $1.15-1.20 area for PDN
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