RE:are we overbought near term?I don't know goldstd69. I am hoping for a drop off so I can buy. Being overbought really depends on your perspective I think. In the long term (my investing timeframe) I do not think in terms of over bought...not a meaningful term for me. What I look at is where this is going to be 5 to 10 years out so not too concerned at where it is now except when it is selling at bargain prices I cannot resist. When it drops down to under 3 bucks it is like the Black Friday sales for me.
In my time horizon there will be a mine (whoever owns it) having 500Million to 1 billion pounds of U3O8 that can be extracted at dirt cheap prices and sold at high long contract prices.
So not overbought if you are looking out 5 to 10 years. Could be overbought if your timeline is a few months to a year.
Malcolm