Your not late to this party! on the guest list? 157xLaramide Resources Ltd.TSX_DLY:LAMWilliam_PlayfairThis was my pick for 2025 — and I was early. I feel a little like Homer Simpson. He gets things wrong, but he has a good heart, means well and has certainly stood the test of time. Most episodes work out in the end, usually with a little help from family and friends, and he always goes home with the right girl. But boy, can she misbehave! That’s trading. I was convinced this one would eventually move with the other commodities, and I still believe the bigger picture is compelling. Just look at the move that began in 2002 — around 156,000% at its peak. Read that again. There are still people out there who participated in that rally and remember exactly what this stock is capable of. If the conditions line up again, perhaps they’ll be ready to put it back into “eat, sleep, repeat” mode. The macro backdrop is becoming increasingly interesting too. Oil and gas are moving higher, AI is creating enormous demand for electricity, and nuclear power is becoming an increasingly sensible part of the energy conversation. This stock looks well positioned if that theme really takes off. At the same time, the yearly trading triangles are coiled up beautifully. We’re getting closer and closer to that apex. We’re also seeing billionaires and major technology companies increasingly focused on securing long-term energy supplies. Nobody wants to be left out in the cold as the demand for power accelerates. Trump has been highly critical of wind turbines — the “bald eagle shredders” — while scaling solar brings its own challenges, from thermal events to its significant demand for silver. If silver becomes considerably more expensive, those economics become even more interesting. Against that backdrop, uranium stocks still feel almost out of season. And that’s exactly what interests me. Sometimes you want to be positioned before the season changes. If the uranium theme really gets going, this could become a long-term slingshot trade. With so much discussion about a new commodity supercycle, imagine if this manages even a fraction of that extraordinary historical move. We’d all be smiling. This chart screams bull to me in much the same way XRP did years ago. I still want diversification, but I keep coming back to Stanley Druckenmiller’s philosophy: concentrate on your best ideas and watch them like a hawk. After all, copy what works. Then there’s the question I always come back to: What is my downside versus my upside? If the setup fails, I want the chart to tell me I’m wrong before the damage becomes significant. Trading triangles are particularly useful for defining those levels and managing that risk. But if it isn’t going lower — and, of course, it still may — the potential upside becomes very interesting. A return towards the previous ATH alone would represent a huge move. And if the bigger thesis plays out, this is the kind of equity that has the potential to produce a retirement-sized move. If that happens, everyone will be talking about it. The trick is being on board before they are. I was early on this one and chose not to cut it. Now we’re approaching that apex, and after digesting that extraordinary historical rise, perhaps she’s getting close to being seriously mispriced again. There’s also another possibility: she may still be building a much larger macro triangle before eventually making a run towards that long-term $74 target. We’re around $1 at the moment. How many opportunities do you find where the chart presents theoretical upside of that magnitude — potentially 150x depending on when you jump on board — while the underlying physics of the energy story may also be working in your favour? That doesn’t mean it gets there. A target is a target, not a promise. But this stock has a history of making extraordinary moves. And history has a funny habit of rhyming. For now, we’re approaching the apex. Let’s see which way she breaks.