will there be a preconference dump, page-19

i tend to agree with this view .
I hope it does eventuate as i've geared my portfolio for this outcome. A surge in SA and overseas undervalued uranium stocks

The ASX is getting over bought short term and the most likely course for the next few weeks to a couple of months is – correction mode. Traders may be lucky and get a chance to sell into this market this week and wait for buying opportunities over the coming weeks, some will be even luckier and pick some of the winners that are set to go against the tide. A look at the Resources Bourse for my offshore friends…



The ASX has now risen sharply by about 10% and you will note the short term peaks above – in November, start of January, end February and now potentially… where this market has gotten overheated and needed a pause. This combined with seasonal factors seems to suggest traders should tread warily and investors should apply caution right about now. We do not see a long protracted decline, Down Under we are in a long term resources boom and the ASX is overweight resource stocks compared to other international indices.

Further to this comment - there are some stocks, particularly in gold and base metals that are poised for a run, even right now. Uranium stocks in my PDF product have very attractive charts, the stuff of dreams and investors have been cleaning up and many of these stocks now need a pause. We are about to find out what the potential new Labor Government intends to do with their Uranium Mining Policy so all breaths are now held in check awaiting the outcome next weekend. I daren’t guess at the outcome as advice or even opinion – however I can say noises from the moderates indicate that common sense must prevail. I’ll just wait and see, including the reaction of many of the overheated uranium stocks. The market is expecting a pro-uranium mining result. There may be some “live cat” bounces on any meaningful pull backs in the near term.