Playing the macro..
From a weekly perspective, a big drop from 12.5 to 11.5. Volume was on the higher side
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So what is happening? To me it seems to be playing the macro. And U macro is playing weak. There was a good announcement, but U macro currently is overpowering any individual stock news. So we go with the flow. Overall U macro is playing weak. As I wrote last week, CCJ needs to hold 39A/40 level. It lost that this week. The final number is around 35. If it loses that, long winter for U stocks. AEE did a new 52 week low today at 10.5, so playing with weakness.
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Personally as I wrote last week, my AEE average was 12, but my holding was not very big, I added some more at 11, my average 11.5 now, but still comparatively not very high holding.
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So what may happen next week? All depends on U macro. All depends on CCJ. We don't know. Overall U macro is not bad. But a lot more people have to believe it. CCJ has to get over 40. Spot price above 80. Let's hope it plays out that way. Enjoy your weekend and all the best.
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