I’ll answer your notes first, then my picks.
- Becoming an AI play is a huge under reported theme – last year CAT best exemplified it. Do you have a non-tech stock that is beginning and AI play (and by extension buy)
<Cameco (CCJ) remains a favorite non-tech AI idea, as nuclear power is being tapped to run AI datacenters. CCJ has broken out recently and might be a better buy on a pullback.
– CCJ is the world’s largest publicly traded uranium mining company. Uranium is the main fuel source for nuclear power.
– CCJ broke out of a 4-month trading range in early January and has broken out to new all-time highs. The stock might be extended here for full new buys, but building a position on pullbacks makes sense.
< GE Vernova (GEV) is another non-tech, power generation related idea, as AI datacenters are straining current power supplies.
– GEV is a leader in the power industry with exposure to the power grid.
– They operate in nuclear, gas and hero, among others fields.
– GEV is a buyable chart here, but with earnings due to be reported next week, wide trading ranges are possible.
< I recommended both over the summer with Charles. I currently hold GEV and I am looking for a pullback in CCJ>.————————————————————————————————— - Memory Chip Eruption Continues
<Absolutely, one of our favorite themes coming into 2026. Micron (MU), Western Digital (WDC), Sandisk (SNDK) and Seagate (STX) remain favorite ideas here and on pullbacks. All have been on our weekly buy lists coming into 2026.
<We have along position in WDC and view this group as buyable on a scale in basis, at the market and on pullbacks. I wrote more on this below>————————————————————————————————— - Buying the Dip – Mag Seven Style
<The Mag 7 have been laggards YTD, with only Alphabet (GOOG) and Amazon (AMZN) higher YTD. We have a long position in GOOG>.
<The Mag 7 have underperformed as money has rotated int more cyclical stocks, in expectations of an extended Fed rate cutting cycle>.
<Investors believe that they can get earnings growth in more rate sensitive parts of the market and also in more speculative areas such as biotech, clean energy, metals and miners and Latin America>.
<We believe GOOG is a buy here and that Nvidia (NVDA) will turn back up. While I am bullish on these stocks over time, I am not actively buying here other than GOOG.
1. The S&P 500 index (SPX) and Nasdaq 100 index (NDX) remain in buyable weekly uptrends over their rising 10-week moving averages, but we are seeing much more strength outside of the index level, which is weighted toward mega cap growth.
2. Among our top performing open positions, that we came into 2026 with are in the metals and mining sector:
MATERIALS SECTOR
Newmont Corp (NEM)
SPDR Metals & Mining ETF (XME)
Van Eck Rare Earths ETF (REMX)
All are up from 22% to 28% YTD and remain in long term uptrends. We believe this is due to geopolitical concern and global current moves. Godl and silver have made repeated new highs this year and we see this group as buyable here and/or on pullbacks.
NEWMONT CORP (NEM) remains a favorite idea.
Our first buy here was 8/22/25 and our most recent buy was 12/18/25.
I recommended GDX on air with Charles on 4/28/25 at ~49, it has doubled since then. I was long GDX at the time and rolled it into NEM.
Breakout uptrend over 5 rising daily MAs with a bullish macro backdrop.
We have a long position here from 70.79.
3. TECH SECTOR
– Our new buys this year here are Intel (INTC) +32% from the buy and Western Digital (WDC) +19%.
– There has been a major rotation over the past few weeks and into 2026 into semiconductors equipment stocks and computer hardware/memory.
– Top ranked buyable ideas here are INTC, WDC, Sandisk (SNDK), Micron (MU), Seagate Technology (STX), Lam Research (LRCX), ASML (ASML) and Advanced Micro Devices (AMD).
– Software stocks have sold off sharply on concerns that AI will erode their business models. We have a small long position in Palantir (PLTR) from September 2024.
WESTERN DIGITAL (WDC)
– WDC is in a breakout uptrend and is buyable here and on pullbacks over 220.
– Confirmed uptrend over 5 rising daily moving averages in a very bullish hardware sector.
WDC is a major supplier of high capacity hard disk drives (HDD) which are key for AI infrastructure buildout and for the massive data centers used to train and operate artificial intelligence models.
WDC has ~62% of the HDD market and STX has ~38%.
(We have a long position here from 202.64).
INTEL CORP (INTC)
A bullish breakout in 2026 over 5 rising daily MAs.
Earnings are reported after the close today, so a wide trading range is possible.
Post earnings note: Intel beats quarterly expectations, but guided lower for Q1 due to supply constraints. The stock is pulling back to where it was this past Tuesday and I expect it will turn out to be buyable at some point over the next few days.
(We have a long position here from 41.07).
ALPHABET (GOOG)
Our favorite Mag 7 stock and current long position, from ~317.
Their TPU’s have become a viable competitor to Nvidia (NVDA) GPU’s. We hold both stocks with GOOG as our technically top ranked Mag 7 stock, trading over 5 rising daily moving averages and just below new all-time highs.
We have a long position from ~317.
VANECK URANIUM NUCLEAR ENERGY ETF ((NLR)
We have a recent long position here from 147.86.
NLR is in an uptrend over 5 rising daily moving averages with multiple recent bullish daily moving average crosses.
After a recent pullback from new highs this has turned up and this is an AI-adjacent theme.
Uranium and nuclear power are key fuel sources for the AI data center buildout.
Buyable here and on pullbacks.
Top 10 positions include Cameco (CCJ), Uranium Energy Corp (UEC) and Oklo (OKLO).
DISCLOSURES:
We have long positions in GEV, NEM, WDC, INTC, GOOG and NLR.