U down?

Tradetech dropped its "expected spot price" $3 last week. Since it was done without an actual trade happening I did not think it very significant.

This week Uxc also dropped its price indicator by $1 (to $135, same as tradetech). And I believe they use actual selling prices.

That leaves the question: did the price of U follow the miners?

We have had quite a correction in the miners. I have called the bottom a while ago, but depending on the equity you were in, it was not the absolute bottom. Though I still believe it to have been very close to the actual bottom - price wise.

Today we have a nice move in the sector. Probably caused by oil not willing to do what the prognosticators tell us. I heard its back into backwardation again. Will today be the start of a nice run, or is it still too early in summer for that? I guess we will learn soon. I do believe that now is the time to be buying. I cannot say for individual stocks, but I (still) believe that the lows of the sector as a whole are behind us.

"We have had quite a correction in the miners"

I'm not convinced that the correction was substantial. I've been building up Ux miners over the past three weeks and since Friday with those newcomers I'm in the black already. Although I must admit my bids have been quite greedy and selective.

If this after such a huge run up, is the only correction we're going to have then it can only fuel my enthusiasm for uranium. There were little buyers in the market which clarifies why on some days seller pressure immediately translated itself in a couple of steep drops, however when that stopped the market slowly made up some of those losses and in the end there's nothing to worry about. But let's be careful maybe there's some more to come, but it shouldn't because we're back at the 50 MA now.

I also noticed that stocks like SXR and CCJ that are traded by the big boys (volume is more normal and regular here) did'nt really loose much terrain in those weeks.

veg.

Corrections from 20 to 50% across the board do classify as substantial imo.

Especially when measured as since the previous correction, I expect that some stocks have retraced the entire move up since then.

When seen in the light of the entire move up since 2000, then yes, the correction was not really all that worrying.

You're right Rien

I had a too selfish view. They did retrace quite a lot from their heights.

veg