Uranium price started to Boom, page-2846

A very sedate day of trading. It was clear that there was no clear direction.

There was decline in nearly all ASX U stocks for upto 10%, AGE was rare to finish in green, though with lowest of margins.

For AGE, this was the lowest volume of shares traded in last 4 months. Don't know whether its good or bad. I am taking that as good, reason being, it was a very big seller who was driving the price down, it looks like either its done or taking a rest. It could have been an accumulator who after pushing price down, was wiping out lines in buying. Maybe it's full now, achieved its objective. Retail, most of us have had already bags full so can't buy much. It looks like most of weak hands have exited scared by the big seller. All these may be leading to low shares traded. Everyone is waiting for a catalyst, and at this stage all nearly going together.

Its become a see-saw on a daily basis - one day up, next day down. We need something to break this monotony.

We finished the week ahead. Last week was 5.5 and today finished on 5.7. Last 5 or 6 weeks or so, every week there was a decline from previous week. Although the gain was not much, but it was good to break the weekly decline of such a long time.

Everything is pointing that we have seen our bottom and are in strong buying zone,but again we have to remember that macro rules. AGE with its drilling results next month should be an attractive buy to get some significant gains in short term. Of course the results have to be good. The update this week around the drilling is looking very good and could be a bonanza results that could up our resource pounds.

Looking forward to Monday, US stocks may provide a cue. For last few weeks we are having alternate good and bad Mondays, based on that pattern, after having a bad Monday this week, let's hope the pattern continues and we have a great start to the week. Enjoy you weekend and all the best.