Investing on a day to day basis identifies very few...

Investing on a day to day basis identifies very few opportunities to make "easy money".

In reality, decisions and investments made in real time carry all sorts of risk. Only in the future, with the wisdom of hind sight can those decisions be judged as either opportunistic or foolish.

With BOE now reversing steeply back into the low $4 range, each investor can either salivate at the opportunity, groan at the loss or be trapped into inertia confounded by price volatility. There is no right or wrong because each position can be a valid one based on the goals, capacity and mindset of the holder.

I must admit I will not be surprised if the price retreats another 10% -15% before bottoming sometime later this year. I will have some cash earmarked for that very contingency.

Then again, after a day like today and a month like the one we have just had, I sense a degree of investor unease and an abrupt reversal of confidence in the U3O8 narrative. That is reason enough for me to commence some programmed stock accumulation just in case this weakness passes quickly.

After many decades I will declare I have had very little success in picking tops or bottoms. That relies on too much luck. However, I have had a reasonable run at identifying periods of weakness and exhuberance, buying the former and selling the latter.

I don't believe there is any magic sauce, chart pattern/system or movement of the stars that makes investing a science. I have found it be be more an art that some are good at at others not so good.

Rightly or wrongly, I have waded in today, purchasing a significant but not silly amount of stock in the high $4.20s. With the BOE transition from production to cash flow hitting some snags, there are no certainties here, just a lot of known unknowns. For many, the market pause and decline is somewhat challenging. It may challenge us further, but in 6 -12months time, I can only see the supply deficit being more acute, and those miners closest to production, as the safest bet. That is why I moved today.

In a few months time, I will be reminded that I am either not as smart as I think I am, or not that bad at reading tea leaves.

To each his/her own.

GLTASH