Weekly data and thoughts..Please not that all my views are for...

Weekly data and thoughts.
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Please not that all my views are for short-term only, and I could be wrong, so please dyor.
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Uranium Sector Overview -
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From a weekly perspective, PEN had a decent drop from 114 to 100. Looking very vulnerable now. Last week I wrote I exited with around 10% gain from 108 towards 120. I may have been lucky.
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Lets look at 3 key indicators that provide market direction for short term.

• CCJ - Lost around 1.5% for the week, last week 49.93, this week 49.19
• BOE/PDN - Lost around 4/6% for the week
• Spot Futures - Dropped from 69.65 to 66.45 this week, loss of around 5%

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So what are the numbers telling? Still in an indecisive state. When stocks are in an indecisive state, they tend to drift down. Gradual rather than dramatic..
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So what may happen next week? On Friday, general markets mixed with SP 500 flat. US U stocks in moderate/high red, close to 4 to 9%. CCJ/URNM lost around 4% on Friday, UEC lost around 9%. So we may start the week on Monday with some fear and hesitancy, but later it should trim hoping for a good Monday night in US. Spot futures is throwing a lot of tantrum, trying to hold 66 now. Can it go below 60? It was unthinkable just a year back, but now within reach. So sector is looking vulnerable. But its a volatile sector, when the gains come, its quick and fast. That can happen, but first we have to weather the current storm and hope CCJ stays above 45, hopefully above 55. All the best.
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Here is the Figures for the Week:.
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