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 was flat. One of the few U stocks not to lose this week. But many may say its because its already very low. Possible. CCJ has dropped below 45, so short-term some more weakness may be there. If it falls, first level is around 90. I wrote last week how I had exited my buys from 108 at 120. May have been lucky. I am waiting for next quarterly before getting here.
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Lets look at 3 key indicators that provide market direction for short term.

• CCJ - Lost around 8% for the week, last week 47.19, this week 43.48
• BOE/PDN - Lost around 5/8% for the week
• Spot Futures - Dropped from 66.45 to 64.90 this week, loss of around 2.5%

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So what are the numbers telling? Last week I wrote that it was still an indecisive state, and stocks were declining slightly due to that indecision. This we its different.

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So what are the numbers telling? We are now playing with weakness. 3 big reasons

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• General markets also looking iffy. It can drag down stocks in general, so U stocks can get affected as well
• CCJ had a big drop on Friday. Crucially, anyone reading my posts for last several months, I have been writing that CCJ needs to hold 45 else very high chance of 40 level to come into picture. It lost the 45 level after 5 months on Friday.
• Spot futures is in constant decline for a long period. Dropped below 65 after 17 months. So not looking good, 60 needs to hold.

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Personally, I have not been able to play much in EV (Lithium, REE, Cobalt, Graphite) and Uranium sector for quite some time. from a sector play, I have been playing Gold to most extent with some Health stocks. Gold stocks are playing like Lithium and Uranium of 2021/2022. Even small stocks rising big on hype. Lets see how long it continues.
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So what may happen next week? On Friday, general markets and US U stocks had a big drop. CCJ playing with fire, any more weakness suddenly 40 will start looking vulnerable. Last big drop happened in September, it reached around 35 coming down from 56. So lost nearly 40% that time. Another 40% drop from this time high of 62 takes it to around 37/38. So its possible. If it happens, it will drag most U stocks down. If Spot Futures fall below 60, that too will sour the sentiment. So time of reckoning coming up. There is a chance both general markets and U stocks can rebound from here. Its possible, though odds not very high at this stage. Lets hope we have seen the bottom. All the best.

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Here is the Figures for the Week:.

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