The bad news is on NYMEX, the future price is between $72 to $97;
Another bad news is a lot of uranium bulls tend to remember the skyrocketing uranium spot price, and refuse to accept the other direction (including me);
But the good news is the worst might be over in coming weeks because my theory is someone is manipulating the NYMEX, create a shocking situation, and so the can get the uranium very cheaply by today through DOE uranium auction. The result will be ann on Aug 31.
The future on NYMEX is really a phony one. It is cash settlement, no physic delivery is required. UxC set the price, and the rest is cash change hands.
The total open interests are too small to mention. A few hundred thousand dollars can drive the price down to hell.
I hope my judgment is right at least this time. And good luck with long-term.
BMN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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