RE:numerco is not encouraging reiter15 wrote: Spot #uranium 4900/5025 USc/Lb #U3O8 (Delivery at CMO , Unch) CMO = CVD 0c/Lb, CMO = CMX 0c/Lb See https://numerco.com/NSet 9:00 AM · Sep 22, 2021·numerco
I shall stay out of the sector until the situation calls for action.No need to put cash to work
this is just my opinion
Strongly agree with that one. The worst is people following others and then blaming them and whining. Take d*mn responsiliby for your own trades and investments. If you lose, the main person you should blame is yourself. If you're down on UEX and you say "UEX is stupid", nono, you're stupid.
On your other post - disagree that numerco's drop in prices is a bad thing. Fundamentally uranium has always been about supply deficit. Sprott taking out 10M pounds and pushing the price by 70% just shows how little there seems to be available on short notice. And they've managed to put the market on notice to the mainstream investors + utilities + producers.
There could be multiple interesting dynamics playing out - such as other financial players coming in and trying to do the same with additional capital, utilities or even producers hurrying up to stockpile and creating shortages for others. I think this space is about to get a lot more interesting from here, especially since Sprott has more bullets. It's nice to keep some in the bank as a threat to the other uranium-interested parties. We just need to mentally adjust to a slower tempo. The fast tempo from the last month was just not gonna last.
I was afrait Sprott would shoot all their bullets quickly and then have nothing left. But I am happy this run-rate is taking a breather so it gives time to others to consider buying as well, under increased pressure. Also we don't want all producers to rush opening up mines. Leave em off a while longer.
The soup is cooking nicely me thinks. A little more patience. Many of us have been waiting for this for years, we can wait a little longer.
JMO, DYODD.