Posted 15 September 2007 - 01:10 PM
Uranium oxide went from over $130 per pound down to $90, the first price decline in four years, and a pretty wicked one at that. The general scare in the stock market, combined with the hugely overbought monthly and weekly charts of the uranium stocks, and the price fall for U3O8, made for some real wipeouts. LAM and PNP - 16 to 4, whew....
I never dreamed such a decline would occur. Now, the "Purge" has occurred for real, IMO, and we're still in a long-term bull, again in my opinion, of course. U3O8, after all, was $7 earlier this decade, and energy issues overall are acting well.
I'm all back in, and last week, especially Friday, was nice. PDN worries me - could easily just be a correction back up in a still-ongoing decline; remains to be seen. I continue to love ALS not only for uranium but also for the other stuff that comes out of the ground.
Posted 15 September 2007 - 01:39 PM
Be Sure to Perform Your Own Due Diligence
Posted 15 September 2007 - 01:45 PM
Posted 15 October 2007 - 02:07 PM
Posted 15 October 2007 - 08:50 PM
Posted 16 October 2007 - 03:28 PM
Thanks. I'll look at MGA.TO.
I picked up UUU.TO, EFR.TO and U.TO last week. Steve Saville mentioned these names so I accumulated a position there and will look to add. The sector has bottomed, no question IMO. Now do we still have a bull market here? I suspect so, time will tell.
P.S. Remember my post on Aug. 16th?
Aug 16 2007, 04:52 PM Post #14|
I bought some NLR (amex) today, the new Nulcear Energy ETF. I'm looking at CCO.TO, but I want to see confirmation of a decent bottom before I buy any individual shares at this point. The ETFs seem like a good risk management tool right now.
The funny thing is today I got a trading alert late in the day. It was based on a price alert which is at least 2-3 years old. It informed me that STM.TO was above the trading price set at $1.75. Apparently the shares hit that level today and tiggered the alert. I had set that price alert level a long time ago as a breakout and buy point. Kind of ironic.
Do not be surprised if you find today was the print low for the sector. Everything in the junior resource sector was sold hard recently and today was a fitting climax.
Posted 17 October 2007 - 10:36 PM
Posted 18 October 2007 - 03:27 PM
Good news today on it, and up big on serious volume. There's certainly a ton of scam stocks out there, but for the "real" uranium issues, I think surprises will tend to be on the upside.
Took a four-month whipping, bottomed, rallied, then had another scary decline last week. Didn't manage to get down as low as in August, and momentum was diverging higher. Good grief - shouldn't the weak hands all have been forced out of this bad boy or what?
Anyway, no guarantees of course, but looks like another major green light.
Posted 29 October 2007 - 12:35 PM