planets still aligned - awaiting japan

While we discuss price movements, charts, el capo II predictions and whether upcoming SML approval has been priced in - reassuring that SP ticked up today and sets up intriguing couple of weeks ahead.

SML - priced in? Am never sure about this, surprises me how often something we take for granted sometimes surprises the market.

Spot price - this has me beat. Thought it would have started to inch up gradually, but seems to have a mind of its own. When will it start to move?

Grateful el capo II finally provided rationale for price dip, and he/she at least got 3.1c right, so kudos there. Sub 2c a stretch for me, but never say never. Be interesting to see whether he/she bought some at 3.1c or is really hanging out for sub 2. Loses if made first base but no home run.

I've been hanging out for Japan nuclear restarts and still believe this dynamic has a lot of steam. While it is pretty well accepted they will restart, the first button hasn't been pushed - reckon news which brings this closer to reality will provide little bursts for the sector and PEN. Expect updates will add a little to SP, fall back some, then next update add a little more. At some point U spot should start to recover in earnest - doesn't have to be spectacular, but enough for the sector to leverage.

We know uranium in Japan is an emotional subject and perhaps market isn't convinced Abe is going to push through the protests and any local opposition. I find this article interesting in describing the mixed emotions involved, but ultimately leading to restarts - possibly in the next few months.

http://www.nytimes.com/2014/03/21/world/asia/warily-leading-japans-nuclear-reawakening.html?_r=0

We're on the way. The breather this week was anticipated, if a little more savage than most of us would have enjoyed. All good in the PigPEN.