PDN uptrend tracking nicely - chart, page-159

Phil, nothing I can see from your chart. U chart is misleading because there is not much volume going through and half the producers have long term contracts that are usually higher than the spot price.

One rule I have now when "bottom picking". The reason why price for anything has fallen to the pits is because sellers out number buyers. In a bearish down trend, there will always be bull spikes which could be a product of short squeeze and bottom pickers. No one knows which one is the genuine trend reversal bottom level until after the event. One can always manage the position accordingly if lucky enough to pick a bounce using the plethora of strategy by using S/R lines and some simple candlestick pattern. Most chart reading is nothing more than good old common sense but plenty of gurus out there likes to make it sophisticated so they look intelligent.

Hence I don't see the run in U sector having any sustainable sentiment. There have been a few euphoria spike post Fukushima but nothing sustainable.