Positive day of trading for BOE yesterday but the tariff man would have none of it, so overall markets got slaughtered and unfortunately uranium was a big loser.
URA has now tested all prints from below and faded - this is not a good sign for longs.
Was thankful for the opportunity to offload my own longs yesterday after picking up more at $2.50 Friday.
7% was looking a little over cooked so couldn't turn down $2.66 when it was offered.
As mentioned over the weekend, was expecting chop if a base was forming, however overnight trading looks more bearish than just chop so I think I'll let this next move play out before looking to pick up longs again.
As someone that was trading through Trumps last presidency I can tell you volatility is the new norm so unless you are a true LT believer it may pay to lock in profits when they are there.
BOE MMs really like gapping off $2.48, however I think this gap close may be a little quicker than the last.
Hopefully any sell off is a quick one with a bounce that actually lasts more than a day.
DYOR
GLTAH
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(20min delay)