Weekly data and thoughts..Please note that all my views are for...

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, BOE had another good week. Moved from 442 to 462, also touched its 52 week high made last week at 475 once again. Prepping for next move. Its getting close to my 3rd key number of 500+.
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Shorts are now under 17%, so there has been a steady decline in last few weeks. Its 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. Lets see if this trend continues
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Personally last week I mentioned I got out around 80% of BOE. Picked up a few at high 420s, around 10% from my sell, not much, but may help if things don't go fine.
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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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410 - First level, very good chance of that happening (ACHIEVED, reached 411, 413, 416 on 3 separate days)
432 - Second level, reasonable chance (ACHIEVED, reached 444)
500+ - There are no key numbers between 430 to 600, so anything can happen.
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If things don't go to plan, it needs to hold around 370 and then 350 - they acted as key zones in the pullback.
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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 - MONSTER week, added over 7% this week, with 2.5% last week, 10% week before - moved from 68.27 to 73.27
• BOE/PDN - GREAT week, gain of 5% for BOE (last week 20%) and 9% (last week 17%) for PDN -
• Spot Futures - MONSTER week, moved from 75.90 to 79.05, inching towards psychological 80, which will be scaled now it seems, next we.

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So what are the numbers telling? (similar to last week)

• 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 great week on the back of a monster last 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
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Personally, Last week I had mentioned I had got out around 80% of U. Added a few this week, some stocks still at similar level I got out, couple have moved ahead. Looks like still some legs for this rise. Spot will be taken over 80, which may provide some impetus. One thing I don't like about CCJ is that its not doing consolidation. It did that in 50s, then 60, but since then hasn't done. So if something goes wrong, there may be a steep fall. Also CCJ in under 3 months has moved from 35 to 75, nearly 115% gain. Its not a small stock, over $32b US dollars, so nearly $50b AUD. For it to make such a big gain in such a short time is spectacular, but also raises question - can the next 3 months repeat last 3 months?
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So what may happen next week?

• Last week I thought CCJ may consolidate before moving towards mid 70s. I was wrong. It has moved ahead and made 75 this week
• Based on what is happening, most expect that this rise will continue.
• There is a slight disconnect between my trading pattern where I felt a consolidation and then move up is better, but its not happening. So I am just playing the price action, but very cautiously. Before last week I was very confident and put nearly all on U stocks. Now I have much less, but watching and adding slowly if price action is supported.
• Spot should cross 80 this week.
• CCJ could make a move towards 80. Sometime I feel CCJ price and Spot price are in a race - very close price range in 70s, who wants to be ahead?
• On Monday, US U stocks had another good day, so hopefully a bright start on Monday

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Here is the Figures for the Week:.
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