In the world of finance, nothing ever moves in a straight line.
Yet in 2024 and 2025, resource stocks largely did that – either moving higher, or flatlining for a few months between moves higher.
In 2026, the only real resource that has moved higher consistently has been oil.
Gold peaked in January on a speculative burst from $5,000 to $5,500. Today, it sits in the low $4,000 range.
Silver topped at $120 per ounce, then got a 50% haircut – bigger than bitcoin’s decline in the latest crypto winter.
Another commodity we have our eye on is uranium. We know the long-term story is strong. Uranium production is already below demand, and we know growth is accelerating as the AI buildout has sparked a resurgence in nuclear energy demand.
Yet from its peak near the start of the year, uranium stocks are down nearly 40%:
What’s more interesting here isn’t just the price action.
A look at the relative strength index, or RSI, indicates that uranium stocks are nearing oversold territory.
The last time that happened? April 2025, before a massive move higher. And March 2020 before that, in the throes of the pandemic when the whole world was in the midst of a grand experiment to turn off the global economy.
We wouldn’t be surprised if uranium stocks joined the group of companies poised for a strong post-election move higher. It’s one of many oversold sectors. But when commodity stocks get oversold, the move higher tends to be strong.
Today’s Pro recommendation looks at just such a setup.
~ Addison
P.S. Are your trading accounts set and taxes organized before the end of 2026?
With the end of 2026 in sight, now’s the time to make some year-end moves that could significantly save on your taxes, so we’ll also be hosting our friend Nick Buhelos from Prime Corporate Services on Thursday, October 22 at 1 p.m. ET.
Nick will show you how to legally minimize your taxes with smart, strategic planning — including using your membership in the Grey Swan Investment Fraternity as a tax-deductible expense against your investment gains.
