Uranium One Inc SXRZF

RE: lots of volume, lots of down

[skydiver069]

Hey LouE,

Interesting view points from you here.  I hadn't really been paying much attention to UUU until it broke my entry point ($2.20) the other week.  Guess I'll have to get back into doing some homework on it this wknd, and prepare some cash from elsewhere in case of a downtrend.  Might be worth averaging down in due time?

Sky

 

looks bearish allright.  Now that its lower than the last time earnings were reported, I have to wonder if another rally on bad news goes ahead...I'm sure many are hoping to ride a 3 day up curve, but My money is on a sell off on 3 bad earnings in a row, lowest spot price in 2 years, weakening demand causing producers to reduce future output amounts, and of course incteasing supply/inventory, as producers hope to sell later for more, but get squezed with falling spot.

When supply/demand gets mesed with, the correcyion allways goes past centre.  So if reasonable is 45/pound, expect to see 39/pound before a reversal comes close.