Z-SYMBOLS
May 15, 2026 | AMAT, AMD, AVGO, CSCO, Daily JAM, F, MRVL, NVDA, Short Term |
Friday it was “Never mind.” Chip and AI-related stocks were in the red on Friday after talks between the U.S. and China did not yield any detailed deal around chips. The tech-focused Nasdaq Composite (COMP:IND) fell around 1.74%. At the same time, the benchmark S&P 500 (SP500) slipped about 1.22%. The blue-chip Dow (DJI) declined around 0.84%. On Thursday, in contrast, it had been all hope and cheer. Nvidia (NVDA) climbed 2.6% on news that the company would be able to export its H200 chips to China. Broadcom (AVGO) gained 5.8% on general AI/technology optimism. Ford Motor (F) surged 6.9% on news that the company was planning a move from making batteries for electric vehicles to making utility-scale batteries for the grid. I think the extreme gains on Thursday and the big losses on Friday tell us something important about where we are in this rally.
May 6, 2026 | Daily JAM, Jubak Picks, PAAS |
Pan American Silver (PAAS) reported earnings and revenue on Tuesday that met my goals for a silver miner in this market. My premise is that the silver stock to buy is one that combines expanding production with declining production costs. Which is exactly what Pan American Silver reported.
May 4, 2026 | B, Daily JAM, GDX, GDXJ, GLD, Jubak Picks, Long Term |
Watch what they do and not what the say is always good advice for investors trying to figure out what’s going on in the financial markets.
Sure, the Federal Reserve has said that it has a target of no more than 2% inflation. And Jerome Powell & Co. has professed their disappointment that inflation remains so stubbornly elevated above that target,
Since the start of the year, the Fed has expanded its balance sheet by $170 billion. That translates to a staggering $510 billion annualized run-rate. The Fed is currently expanding its balance sheet at almost 8% a year during a period when the U.S. economy is supposedly not in a recession.At the same time, U.S. money supply M2 grew by $1.65 trillion in 2025, which is roughly 6.3% over the year.
May 1, 2026 | Daily JAM, Long Term, SCCO, Top 50 Stocks, VALE |
There’s an old business joke–its origin may stretch back to 1833–that has a company claim that it loses money on every sale but makes it up on volume. I swear I remember it as a kid as part of a radio ad campaign for a clothing store in New Jersey. And now, it seems to be literally true for copper miners Southern Copper (SCCO) and Vale (VALE). For these companies surging prices of byproducts of mining copper–like gold and silver–have turned the cost of producing copper negative.
April 28, 2026 | Daily JAM, PAAS |
If you want to add more silver exposure or want to get more aggressive with silver in your portfolio I suggest adding the shares of silver mining companies that are forecasting big increases in silver production in 2026 and beyond.
My picks here are Endeavour Silver (EXK), which in 2026 will see the first full-year contribution from its Terronera mine and the newly added Kolpa mine, and Pan American Silver (PAAS) because of its La Colorada Skarn expansion. I’d start with Pan American Silver because it has an extraordinarily low All-in Sustaining Cost of $15.00 to $16.25 per ounce.
Silver futures closed at $75.560 an ounce on April 24. I added Pan American Silver to my Jubak Picks Portfolio (on my free JubakPicks.com and my subscription JubakAM.com sites) on June 2, 2025. That position was up 114% since then through April 24, 2026.
I will be adding shares of Endeavour Silver (EXK) to that same portfolio on those two sites Monday, April 27.
April 28, 2026 | CCJ, COST, Daily JAM, Jubak Picks, LNG, PAAS, Special Reports, WMT |
Could stocks move higher from here even though they’re more expensive than a year ago? Of course.
Could they gain another 29.8% in a year? It’s possible. But it strikes me as unlikely.
That sums up the current market puzzle very neatly, I think. Stocks are expensive and don’t seem to be pricing in potential very real risks. But stocks have returned almost 30% in the last year. And it’s very hard to walk away from the possibility of that kind of gain. Even if it is unlikely. What I’d suggest right now is a stock market strategy that takes into account both a solid appreciation of the excessive valuations in this market (along with a failure to price in risk), and the realities of investor psychology.
It is too difficult to go cold turkey on stocks right now and move 100% out of the market. On the other hand, you should be moving to reduce your exposure to the riskiest parts of the market–high multiple stocks–and raising your exposure to counter-cyclical or non-cyclical stocks. In this post, I’m going to give you 10 stock picks to use in executing that kind of strategy–a way to stay in the market and yet to reduce your risks.
April 26, 2026 | AAPL, AMZN, Daily JAM, GOOG, Jubak Picks, MSFT, Top 50 Stocks |
This week brings a huge earnings test for AAPL, AMZN, GOOG, META and MSFT. I’m going to sell Microsoft out of my 12-18 month Jubak Picks Portfolio on Monday, April 27, ahead of the earnings report. That position is up 319% since I initiated it on June 14., 2018. I am keeping Microsoft in my long-term 50 Stocks Portfolio. That position is up 40% since I initiated it on January 18, 2022.
April 20, 2026 | NVDA |
In aggregate, the “Magnificent 7” companies have reported higher (year-over-year) earnings growth than the other 493 companies in the S&P 500 over the past several quarters. Is this trend expected to continue in the first quarter of 2026?
The answer is yes. with one huge caveat. For the first quarter of 2026, the estimated (year-over-year) earnings growth rate for the “Magnificent 7” companies is 22.8%. The blended (combining actual and estimated results) earnings growth rate for the remaining 493 companies in the S&P 500 for the first quarter is 10.1%. However… Nvidia (NVDA) is expected to be the top contributor to (year-over-year) earnings growth for the “Magnificent 7” companies (and the entire S&P 500) for first quarter of 2026. If Nvidia were excluded, the estimated earnings growth for the “Magnificent 7” companies for first quarter of 2026 would fall to 6.4% from 22.8%.
April 20, 2026 | Daily JAM, GLD, Jubak Picks |
I don’t know how long the weakness in gold might last–gold is down 8.4% from the start of the Iran war on February 28 through the close on April 20. Or how big any further decline from here might be-—my crystal ball is not doing a bang-up job of predicting the twists, turns, ultimatums, and reversals in this crisis. But I would once again use the short-term selling as an opportunity to build long-term gold positions. On the assumption that you’ve got a basic gold position in place, I’m going to look beyond ETFs that hold physical gold and silver to suggest two gold mining stocks that have significant leverage to the price of gold.
April 18, 2026 | AAPL, AMZN, Daily JAM, GOOG, MSFT, NVDA, TSLA |
The Magnificent Seven stocks–Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla–now account for about 35% to 40% of the market cap of the Standard & Poor’s 500 index.
March 20, 2026 | Daily JAM, Jubak Picks, LNG, Stock Alerts, Top 50 Stocks, Volatility |
I already own shares of Cheniere Energy (LNG) in my Jubak Picks Portfolio and my Volatility Portfolio. I will add another position in my 50 Stocks Portfolio on on Monday, March 23.
March 19, 2026 | Daily JAM, EQNR, LNG, UNG |
One of the biggest questions–next to When will this end? and How?)–about the war with Iran is How long will it take to repair the damage to global energy infrastructure Increasingly, the answer seems likely to be “A long time.” Iran’s latest attack on Qatar–retaliation for the Israeli bombing of Iran’s Pars natural gas field–damaged facilities that produce about 17% of Qatar’s liquefied natural gas export capacity, Reuters has reported, citing QatarEnergy’s chief executive officer. Repairs will take three to five years and sideline 12.8 million tons per year of LNG, CEO Saad al-Kaabi said, according to Reuters. Two of the plant’s 14 production trains were damaged, with repairs expected to take years, Bloomberg has reported.
