RE:RE:spot price closes at $26.00My thoughts are that this pattern will for the most part continue into the spring regardless but at that time I will take the spot price and its behaviour as an indicator if this is for real or not and adjust my position accordingly. I am way overweight in the sector and hold about six stocks in my holding. I held a small position in the sector over the summer in comparison to my overall portfolio but I started backing up the truck in September and into late October, perhaps a bit early but I am ok with it.
The problem in my opinion is we really dont know the supply but I am confident with so many catalysts coming into play, hopefully this is the start of the sustained rally. If it isnt I will just reduce my position and wait for a better opportunity.
But as of now it looks like blue sky!!!!
juro777 wrote: Part of me thinks this is just a fake rally like the last time Kazatamprom made their cut and spot jumped to $27. Albeit this is more gradual than last time (I recall an instant jump of $2-3), I agree with the poster who said that demand really hasn't changed in the past week and that supply won't be affected. CCO has enough uranium stockpiled to service their contracts for the next 12-18 months, and they sell nothing on the spot market.
On the other hand, Kazatamprom's Swiss trading arm may be working in the background to gradually raise these prices, which may be why we see gradual increases every day instead of a huge jump. We really aren't able to tell if this is happening or not though.
Does anyone have any constructive thoughts on this?
bull_man wrote: up 50 cents according to Barchart and Nymex.....up 30% since the Cameco announcement.