An important week coming for the stock. And maybe for the sector - all U stocks.
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U sector is doing great. U stocks very well. BOE, not as good, but looks like wanting to make a comeback. From a high of 612 it dropped to 238, around 60% drop. Big drop. Its trying to come back. It reached 357. So it has done its customary rise of 50% from its bottom. Does it have more? All depends on U macro, on CCJ. If CCJ get over 57, it will give good rise to most U stocks. Overall, BOE was playing weak, but now its playing average for the sector.
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Personally, I hold a very small amount, as I exited most from my buy from 200s to 300s. it was only 15% gain, one of my weaker gain plays. . I didn't like the play before, so had moved to other U stocks. Now at least the play is average. But have not yet bought back. Now I am watching macro trend, rather than BOE trend. So I could buy, if macro looks good.
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This is what I have written about U sector in my Weekly Report this week. Anyone more interested in other sectors, general markets, etc, look at my other posts around the weekly report, as I write that on one thread only.
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- Uranium Sector overview - I have been writing for last few months months, May end top, July end bottom, September end top. I had written we may do highs in September end/October start. CCJ reached 52 yesterday, a gain of over 50% in a month (it was 35 on September 6). So that has played out exactly as I thought. I am no Nostradamus. I have been writing about Uranium stocks for over 3 years. I do the numbers, weekly/yearly etc. This is the 4th year in a row that September has seen the highs in the Uranium sector. May not be scientific, but its a pattern. I follow patterns. They don't always work. But sometimes they do. The did this time. And I may have been lucky once again with my call. So will CCJ do a new high above 56.24 or do a back test of 45 - which one will happen first? I don't know. U sector is very bullish, Spot price stable. Sentiment good. So the rise can still happen. Only problem with a continuous rise is that if consolidation doesn't happen, when it comes back, it drops big. Its been rising for a month, most stocks have gained average 50% (some more, some less). I have taken some off the table. For 2 reasons. First i feel a consolidation/back test may happen, not sure but odds are even. Secondly Li sector started coming back. U sector had risen. So I thought, if Li sector does well, it may do better. There are lots of ifs, no guarantee. I will buy back U stocks I sold, I am not sure about the timing.
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An important week coming for the stock. And maybe for the sector...
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