RE: 16.00+?I think today's price jump of LAM and for that matter, most uranium stocks, is due to the news about CCO's Cigar Lake project will be further delayed. This created a boost for the other uranium stocks while CCO took a small hit.
My timing of exiting LAM was bad (yesterday) could have gotton out losing just $4 per share instead of $5, if I had held on for just one more day. Anyway this is the market for you. But my new investment is also doing well (what stock does not do well today?) so it is not totally bad.
In retrospect, I realize that the uranium market is way too speculative and volatile. Has anyone really got a handle on the global demands? Are the current productions already sufficient to provide current and incoming new generators? If I ever get back to uranium stocks, I will dig much deeper than just follow the hype.
I actually did a bit of work following the uranium mining issue in Australia. I have in fact read the federal Labour Party's proposal tabled in the April conference on loosening up uranium mining. The belief was once the federal Labour Party endorses it, the state Labour Party premiers (including Queensland's Peter Beattie) will follow suit - Wrong!!!
Peter Beattie is now doing a perfect 180 and singing a totally different tune. How we could be so guillable and never relate politicians with liars is such a hugh oversight - how can we forget Dalton McGuinty and David Miller!!
Anyway, money can change a lot of things including the stubborn Aussies and their opinion on no new uranium mining policy. It would take a lot of time to do the selling. Meanwhile, why would we not just move on. There are many other stocks that been rising in amazing multiples like TCM. I know about TCM, I am just about the only one that lost money on this stock (bought in at about $10 in January, sold for $9+ a little later, it is now $18+ in July).
Would you trust me if I said LAM will return to $16 soon?