Some Profit Taking This Week
4 July 2023
After a pretty brutal week the week before, this week has been better.
Seen some recovery in some stocks, with the biggest winner being French luxury brand Hermès which is now back at the highs.
Additionally, further performance from Cameco as the uranium bull run continues. Have chosen to exit this position this week to crystallise the profit and move into other ideas that I was looking to add to the portfolio. I continue to hold smaller positions in Yellow Cake and Kazamtomprom to continue to profit from uranium strength, but given how strong the Cameco rally was, felt like a good window to exit.
Have also done some profit taking in other names, notably Petrobras, ASML and Antofagasta. All three have seen strong rallies recently, so have cut positioning a little to reduce risk, lower average cost prices and raise cash for other investing ideas that I am looking to implement.