Hey Tim (Cirrus),
From the early April peak we've been correcting in most U stocks, and U.TO and others may be nearing a bottom -- I'm not sure and am patient. Haven't sold any of the main "basket." I think you're right about watching U.TO as an indicator. Heck, even CCJ done come back to life the last couple months.
Have been stopped out in stuff like BAY.V, CXX.V, DIT.V, WRI.V, etc. Multi-baggers from last autumn and I'm watching them and many others for in-and-out trading. Have kept KRI.TO, thanks to you, (AXC.TO too -- sweeeet! I'm pleased with its performance, to say the least ).
SXR merging with Urasia (UUU.V) means my basket is reduced by one stock. Doesn't matter but I've been buying PNP.TO as a "replacement." MSS asked me about it last month and like a dummy I had none. Got a bunch around 12, it shot up, and recently got some more last week at 13. It may go lower yet -- I don't see that it, as many others, is really turning back around and going into rally mode again yet. It's not just uranium and I think it's definitely one to include in core positions for the long haul etc.
Some of the weekly charts are diverging and we might be in for some months, even, of further correction. Really patient here.
Best,
Doug
Doug...same thing happened to me with UUU and SXR. FWIW the reason I like SXR is their rapidly growing production through 2012. IF uranium stays at these levels and higher, SXR is a steel. Look at their presentation...looks great:
60+% of the reserves of CCJ and less than 1/3 of the market cap
should receive full market U prices as they have no contracts on the cheap (like BHP) that I'm aware of
rapidly growing production and at current U prices their gross profit would be over 2$ billion.
FWIW I think the world will realize we're at peak oil by 2012 and I expect uranium to be well over $100. That far out anything can happen, though. SXR also has some hidden assets like ownership of some gold miners and like type stuff.
