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Now we're cooking with gas
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Have you ever heard that phrase before?
"Now we're cooking with gas".
For some of you, it might seem odd. If you have followed me for any amount of time, you know that I am strictly a charcoal guy when it comes to grilling. There are a few occasions where I do use "propane and propane accessories", but that's not really what this post is about.
"The phrase "now we're cooking with gas" originated in the late 1930s and early 1940s as a marketing slogan for the natural gas industry. It was part of a campaign to promote gas stoves as superior to wood-burning and electric stoves. The phrase gained popularity through radio comedians like Bob Hope and Jack Benny, who helped spread it into mainstream use. Ultimately, it evolved to mean "functioning very effectively" or "achieving something substantial" according to Inside Energy"
"Achieving something substantial"
With BTC hitting a new all time high the other day, I think that definitely fits. As much as we have been hoping for the bull market to come out full force, it just hasn't materialized yet. Now, halfway through the year, the feeling that it has to be right around the corner is stronger than ever.
Because we are kind of running out of time right?
Although I plan on taking a bit of a vacation, it is safe to say I am going to be keeping a close eye on the markets this weekend. Despite the alt prices still being pretty depressed, I am still seeing a lot more green than I have in quite some time. Sure, that green still doesn't put us near the old all time highs (except for BTC), but green is still good right?
I'm actually a bit curious to see if this is going to be another one of those tease moments where we think things are going to finally pop off and then we have a hard retreat over the weekend before things bounce back to normal by Monday. It's virtually impossible to tell anymore.
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the community.
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Nuscale
There's been a bit of a pull back with the price of SMR stock over the past couple of weeks. That's kind of like saying there has been a pull back with BTC though. The IPO price of SMR was right around $10 per share. The pull back was from over $40 per share and puts us at like $35 per share last I checked, so I am still sitting pretty as far as that goes.
It's no secret there is a lot of competition in the nuclear space right now. I keep seeing new businesses pop up all over the place. I think it's important to remember that there is definitely space for more than one company. It's also important to remember that just because a company is tied to the nuclear industry, it doesn't mean they all do the same thing.
For example, from what I understand, the primary focus of Nuscale is building small modular nuclear reactors. They could supply these reactors to other businesses in a way that their fortunes could all be tied together.
As long as nuclear power has been around, I still feel like we are kind of in the infancy of this new phase and the potential for growth is still looming large.
CHEX
I'm not going to talk too much about CHEX this week. It's still a bit of a disappointment for me. That's not to say I have given up on it, but I'm starting to get a bit more jaded as of late. With the price right around $.10 per token, we are closing in on the spot where I bought in at. I'd hate to think that $.80 a while ago was the top and I missed out on selling some when I could.
I'm just going to say proceed with caution on this one. The markets are going to do what the markets are going to do. The whole memecoin boom has showed us that fundamentals, strategic partnerships, and use cases mean diddly squat in the grand scheme of things.
Silver
Dang, silver just keeps pushing towards that $40 mark doesn't it? I have a feeling by the time November or December comes around and I am getting ready to do my Christmas buys, I am going to be paying $45 or more per ounce for pieces. I don't know what the history is like for this, but it might even lead to an increase in premiums over spot prices. I'd be curious to know if the standard $2 or $3 over spot tends to float a bit as the price of silver goes up.
For example, when the spot price of silver was closer to $20 per ounce, was the going rate over spot $1 or $2? It would be interesting to know if that amount is directly proportional to the price per ounce of if the $2 to $3 over spot is a relatively fixed amount.
Splinterlands
I've still got some card packs out on the market if anyone is interested. Actually, my RiftWatchers packs haven't moved at all. I think I have about 200 of them out there, so if someone is interested in making me a bulk deal outside the market, reach out to me. Only serious offers considered, I know what I have people! :) Fair warning, I will probably vet you pretty heavily before I actually make a deal.
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