THE SQUEEZE IS ON, page-5095

Weekly data and thoughts.
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Please note that all my views are for short-term only, and I could be wrong, so please dyor.
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.Uranium Sector Overview-
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From a weekly perspective, PDN had one of the best weeks in a long time, with a gain of around 17%. Moved from 630 to 736. So well above my first number of 702, but still short of next one around 900. Overall play is great, made a high of 776 this week. Good momentum, lets hope it continues.
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Shorts are now over 16%, so its increasing. Its not a good sign. 6 big ASX U stocks are still among top 15 shorted stocks on ASX, which doesn't make sense with what's happening in the industry. Although BOE % coming down, its increasing for PDN and couple others..
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Personally as I mentioned yesterday in another thread, have exited around 80% of my PDN. A good run. Reasons I have already mentioned yesterday and again today in my summary below.
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Key Numbers to watch for stock share price?
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If it goes to plan, then we may see higher prices. These are the numbers I feel could be in play -
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702 - First level, very good chance of that happening
Next level - After 702 there is no real level as everything was in free fall. So anything in between 700 and 900 (next significant number 902)
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If things don't go to plan, first play around 702, then we will have to see if that doesn't hold.
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Review of topping of CYCLE 1 2025 statement?

• Point 1 topping - For last 3 months, I have been writing that CCJ (and sector) may top between end of May to mid June as part of first cycle of 2025 - Current situation - Not sure about topping yet because we are still playing. But some stocks, including CCJ at a 52 week high
• Point 2 new high for CCJ - I had also been writing that as part of this, the odds of CCJ make a new high above 62.55 is very good, and the first level to reach will be high 60s for it - This has certainly happened, in fact, now in 70s. This week CCJ made a new high of 71.31

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Review of KEY indicators?
Lets look at 3 key indicators that provide market direction for short term, same as I have been doing for last few months -
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• CCJ - Very good week, considering last week had gained 10%. Not only kept the gains but added another 2.5% to it - moved from 66.66 to 68.27
• BOE/PDN - MONSTER week, gain of 20% for BOE and 17% for PDN - New 52 week high for BOE
• Spot Futures - MONSTER week, in context, gain of around 9%, last week 69.75, this week 75.90, inching towards psychological 80

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So what are the numbers telling?

• U sector overall playing very strongly
• There are no clear signs that we may have topped or topping,
• CCJ made a great move last week, and has continued to go from strength to strength
• ASX U stocks had a monster week with several U stocks gaining from 17 to 38% - yes just in one week
• Spot price is also making a move. For several years 80 (with inflation could be 85 now) has been touted as a number for companies to be profitable/to reopen, its inching towards 80 now
• Initial gains were mostly done by big U stocks. This week many mid U stocks like AGE/AEE/EL8 - they also made a move. Small stocks still lagging.
• Many U stocks made new 52 week highs including CCJ/BOE/DYL - boom time
• So at this stage there is nothing not to like
• CCJ pattern has been very consistent - consolidation and then a big move, and then repeat. Same play from in 50s, around 60, and now towards 70
  
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Why other U stocks not playing like CCJ/URA?

• Last week I had written this section on why other U stocks are lagging CCJ/URA which were making fresh 52 week highs
• This week that disconnect is now removed, so topic not relevant anymore
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Personally, Yesterday in one of the threads I had written that I had exited around 80% of my U stocks this week. First reason, very good gains have been made by many stocks, so wanted to lock in some. Secondly, I have been writing that some topping may happen by mid June (+/-), so want to see how it plays out. Third, wanted to pick some shares (non U stocks) that may be on sale this week for tax purposes - may not happen, but am prepared, in case. Till now I have not seen any signs of topping. So I will see how we go and when to buy back. I want CCJ do a drop around 8/10%, hold it, that would take care of pullback/consolidation etc. It has done that before, so want to see if it will happen in this leg.
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So what may happen next week?

• I am thinking CCJ may consolidate here before the next move, unless there is a significant event/announcement etc
• In previous consolidation at 50/60 etc, CCJ did a pullback of around 8%. If a pullback happens, in positive way, then it could be 8 to 10%, which will take CCJ in 64/65 land. A return from there will be healthy
• If CCJ drops more than 10%, in the next week or so, that may be concerning, but not alarming.
• If CCJ drops more than 20%, it will confirm the topping may have happened
• Way CCJ is playing, and analysts have upped their target price, it seems it still has a few legs to go
• ASX tax selling should not have much impact on U stocks
• On Monday, US U stocks had a small to moderate drop, so may be a tentative start on Monday, but not expecting big percentage changes. Then it will depend on how CCJ and other US U stocks play

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Here is the Figures for the Week:.
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