AGE chart, page-1668

Oh, what a day, it seemed to have more ups and down than a cheap thriller

AGE finished strongly 5 pips up on 8c. Last time we finished on 8 was on January run on 13th Jan, so good to get back there. Our volume was very good, over 114m shares traded. We were the third highest traded share today on ASX. Our VWAP was 7.92c, so a fair finish. It was a very topsy-turvy day. At one stage it looked like we may close around 8.5 and other time around 7.5 - it was one of those days where punters were not sure whether to hold or take profits. We finished right in middle, so the fight had a result of draw.

ASX U stocks too had a great day. Of stocks I track, average increase was between 7 and 8%, AGE had a rise of 6.67%, just below average. 3 of U stocks finished in top 10 ASX shares trade. TOE had big gain of 26% and PDN 11% - the other two top 10. Incidentally these 2 were highest gainers among U stocks I track.

So what happened? Spot price seems to have jumped near $60. US may not get U from Russia, possibly. All these big catalysts reinforcing the boom many of us have been patiently waiting.

Although spot price seems to have reached near 60, I track U Futures. The U Futures increase by 90c to finish on $54.05. So it has to do some catching up. The good thing is the rise is consistent with the good gains we are getting each day, dollar or above.

Personally I too was confused and like AGE I also landed in the middle. Sold a fair few trading stocks across number of tickers. Bought back some of them in closing auctions for some which were below my sell price. But overall was a net seller.

What next - We have had very good last 2 days. US U stocks are also doing well. For long many have said that for a number of stocks, for them to be viable for production, U price has to be above $60, with many saying it needs to stabilise around $70-$80. Finally some are predicting that U price can hit anywhere between $100 to $200. We are reaching that magical figure of $60 now. First gate. What does it mean for U price in short term? Sentiment is very strong and widespread belief that this is just the beginning. Although spot price has increased towards $60, many of ASX U stocks are still well below September figures. US U stocks are doing much better than ASX U stocks - don't know any specific reason except that punters here might be more conservative and want more surety - around sustaining a rise in SP. Will we see a rise in U price towards next target of $80, or will it take a breather with profit takers in control. Its an unknown territory, difficult to predict. I am preparing for both situations as really don't know. But lets hope we continue our rise towards $80 U price and us getting towards the elusive 10 and finally our ATH of 11.5c. All the best.