Uranium price started to Boom, page-2625

One of the disappointing weeks after some time.

Nearly all U stocks closed down 5 to 10%, with AGE dropping 5. The overall market was spooked and ASX closing down just under 2%.

One good thing was that we went down lower than some other U stocks. Also, I wanted to see a finish on better side of 5,so 5.6 under the circumstances was good, also considering that we touched 5.3.

The U stocks are in oversold territory, with AGE a complete bargain. We will remember this time in future and look back of a great opportunity. Worst case, it could drift slightly lower, but bargains don't last forever. Another bad scenario would be that whole economy and stocks go down, unlikely though.

The macro for U sector is at its strongest point now. The sentiment, the govt being pro, new reactors being built, EU taxonomy, US govt, China, Sprott 3.5b kit, U price close to its highest of recent times, around 48 less from 50.8 highest - the question is - what is there not to like.

Hence it does not make any sense, this price action. The sensible, logical thing prevails in end. As the saying goes - you can fool all one time, one all the time, but not all can be fooled all the time. So common sense will prevail. But as we have seen, anything can happen, so please check for yourself, be comfortable and play safe. Have a nice weekend and I am sure we will have a better next week.