Beta: I do think we get another steep correction in the uranium patch (or maybe that's just wishful thinking ...)
Beta, agreed -- the money has been awful easy the last half year. Maybe the market's got a "hangover" from that last big jump in uranium oxide from $95 to $113 per pound. Barring a price decline in U3O8 (which hasn't happened for almost four years) I'd say we'll get sharp but short corrections, as in Feb. - March, or longer sideways to down moves like we had from March - May 2006 to October.
Some of the charts are looking like parabolics. Not to say they can't go far higher, but I wonder. I also wonder if the U3O8 price is going parabolic -- I'd rather see things slow and steady but of course the market doesn't oblige that for long.
Best,
Doug
