3 replies to this topic

[SilentOne]

I don't know if uranium is in a major bull move or not yet. But there are things to watch and the leader should tell all (ie. Cameco). mss has been right to point out the bullish developments in this sector. Now we have to watch how the cycles unfold for CCJ. Cameco seems to follow a standard Hurst cycle model with clearly defined 20, 40 and 80 week cycle periods. The last 20, 40 and 80 week cycle nest of lows came in last fall. Cameco made a 20 and 40 week low mid-summer and now we have to see if it can breakout to new highs in this current 80 week cycle. A bearish development would be for CCJ to take out its summer low. There is an uptrendline in play that is about to be tested. If CCJ can hold the summer low and rally, it would be a bullish development. It looks to me as if CCJ needs another 8 - 10 days to confirm a 10 week low (ideally above the summer low) and the chance for a rally to breakout to new highs. There is a gap just below $25 US from mid-July which I would expect to hold if bullish. The 10 week downside FLD target is just above that level. I have taken a partial position at yesterday's lows ($25.50). I will be looking to add into mid-Sept. cheers, john

Edited by SilentOne, 03 September 2009 - 01:56 PM.

[mss]

Nice work. Thanks for posting. I am long a very small position on CCJ, LAM & UEX waiting for the positive confirmation of a "bullish" trend in full swing. Best to you, Scott

[mss]

Looks like the weekly "cup & handle" formation is still struggling for completion. It is also reflected in the daily chart below.
IMO we are setting on another "blast off up" any day now. Lots of positive turns in indicators in yellow box.

http://stockcharts.c...04&are=1406.png

mss

[SilentOne]

hi Scott,

IMO we are setting on another "blast off up" any day now. Lots of positive turns in indicators in yellow box.

Bingo. CCJ breaks out to new highs. Juniors moving off summer lows.

cheers,

john