Little interest in PEN at the moment, evident from no opening...

Little interest in PEN at the moment, evident from no opening trades and 21 minutes past opening still no action. Obviously the market is waiting for some key announcements before anything substantial occurs with SP. Some good news for the industry at large, however, from Live Trading News today:


Uranium, after a year of weakness, prices are rising.
TOSYY, CCJ, EXC
The Uranium, the energy metal used in nuclear reactors rose 3% this week, and is up an impressive 8% over the past month.

Japan’s catastrophic March 2011 earthquake and tsunami devastated the Fukushima Daiichi power plant. It was the worst nuclear disaster since Chernobyl.

As a safety measure, Japan shut down its nuclear power plants, Europe followed, and the price of Uranium fell.

Now uranium is moving up, and keen observers are seeing an up-trend forming in Uranium prior to investing., a look at the chart below signals the time is coming…

A example of the changing fortunes for uranium and the nuclear power industry can be seen in Great Britain’s Horizon project.

Two German nuclear companies, RWE and E.ON, were scheduled to build brand-new nuclear reactors in Gloucestershire, England and Anglesey, North Wales. The projects are part of Great Britain’s plan to use nuclear power to reduce carbon dioxide emissions by 80% by Y 2050.

Germany threw the entire Horizon project in doubt by placing a moratorium on nuclear power. As a result, in March, RWE and E.ON pulled out of the US nuclear reactor deal, now new companies are stepping in.

Giant French nuclear company Areva (PA:AREVA) and China’s state-run Guangdong Nuclear Power Corporation (CGNPC) will bid on the project.

Another team expected to bid is Westinghouse, owned by Toshiba (PINK:TOSYY), with US energy company Exelon (NYSE:EXC) and another, as-yet-unnamed Chinese partner.

Great Britain, China, Japan, and the US are showing renewed interest in constructing nuclear power plants. Our World still embraces nuclear power as a clean energy fuel.

The Japanese disaster will not suppress Uranium’s inevitable rise. It looks like the markets may be starting to show us that. The trend in Uranium is moving higher in here

Speculators looking to take some risk are investing in Cameco (NYSE:CCJ). Shares of this $8.8-B mining giant are + 17% since mid-June and tapping at 52 wk high. It appears to be the safest pure Uranium-mining company IMO.

CCJ: 22.02 Up 0.09(0.41%) 11:04 a EDT – Nasdaq Real Time Price

It’s too early to say uranium is starting a new rally, but prices are near a bottom, and just starting to rise.