$Elixir Energy Ltd(EXR.AU)$ September has not been a great month for me. Just some weeks ago, I thought I could still ride this through... As of yesterday, with the month winding down, I must be truthful to myself. September is most likely a down month.
I have existed most tech companies, and that probably explains why this is a down month. The US indices have been doing well after all. The hyperscalers running the AI related trades have been moving up. I have shifted a little heavy towards precious metals group (was positioned, but have added even more along the way).
The other thing I did lately was also to increase my shorts on semiconductors index! No, I didn't follow the big shorts into taking the positioning. It was an accumulation since my cash holding is not that high. This new increased position has added pressure to my overall position in the market (together with gold and silver correction).
Elixir Energy, a position I had held for some time and added along the way, is one of the few bright sparks for the week. There has been no new announcement from the company since the possible collaboration with Beach Energy. Perhaps the market knows something I don't, since it is spiking... Anyway, an announcement (good or bad) is imminent. One thing is certain, the increasing oil and gas prices are helping.
Oil and gas is not going away even when the world is calling out for more green energy. The concerted effort is just not there... Especially with Donald Trump throwing spanner everywhere. Even if the world could finally agree on something, it would take a long time for that to happen. That's the reason for me to continue to stay around in this space.
Yes, I might not strictly be in AI space, but I am vested in the supporting resources, such as oil and gas, copper, silver, lithium, nuclear, battery technology, etc. Rightly or wrongly, without these commodities, the technology won't take off. Alas, at least for this week or month, the market is not in an agreeable mood.
With US mid-term elections coming, October will be a crucial period for my year's performance. Till then.
@Daily_Discussion @Tiger_comments @TigerStars
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