Uhmm, so what happened today on a relatively strong U day?.Yes...

Uhmm, so what happened today on a relatively strong U day?

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Yes CXU lost 2 pips to finish on 4.8 on a decent volume of just over 5m shares traded.

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Today was a good ASX Uranium day. Most stocks were in green. We finished in red. Why? Not sure, but I feel we made a big gain yesterday. Also, I had written yesterday that there is a chance of some consolidation and back test. Till now I feel that is what is happening. I could be wrong and later days may give a different picture, but at this stage, probability is quite good that we are consolidating and getting prepared for next rise. I will change my opinion if we are not able to hold 4.5.

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Personally I was not able to play much today. Yesterday I had written that on some weakness, 4.5 or 4.6 may come into play. Once I saw some weakness, I thought we might play there. So I was waiting there. But it didn't look like going there, at least today, so I moved to 4.7. But there were only nibbles, I didn't get much. I am not concerned at this stage. It is only a top up. I would happily buy at say 5.5 or even 6, which means my holding is going up. But I won't be surprised if we have a play there. On weakness that is my buy zone. But if US stocks do all right tonight, I will be buying on Monday, meeting the market price.

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For those who read my posts, especially the Weekly Reports I post on AGE, for last 2 months I have been writing that the next decent rise would probably come in April for U stocks. We are in April. CCJ is on the cusp to make a new 52 week high. It's nearly there. I had been writing for 2 months that it may come back from 39. Somehow it has played precisely. I was just lucky with my calls and numbers. So we are reaching a stage where we may see a good bump in U stocks. The general rule is that leaders lead the way, and then others follow. CCJ is the leader of the pack. It's getting ready to scale new heights. Most other stocks will follow. Including CXU, if pattern remains as I am expecting.

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So what may happen next week? If things go as I was anticipating, I wouldn't be surprised if we are in 6 or 7 next week. But if things don't go to plan? Let's hope we hold 4.5 and then possibly 4. I want to buy more as I knew the lull that was coming in last 2 months and was bracing to pick up now. I did pick up a lot of oppies yesterday, as I wrote yesterday, today wanted to pick up heads, so was slightly disappointed in missing it today. But there is always another day. As long as U sector is going in right direction, CXU is going in right direction, it's only about margins. We will all be winners. Will that happen? Let's hope so. Enjoy your weekend and all the best.