Good news for uranium? A cut n paste bulletin I foundfrom today
"There is a legitimate chance Uranium breaks out tomorrow.
The Diablo Canyon Power Plant in California is reloading and they issued an RFP and the results come tomorrow.
The 6mm lbs for near term delivery isn’t going to be easy. You would think it will be priced at a healthy premium to spot. I’m hearing that cleans the order book and multiple sources are telling me traders are searching everywhere for pounds and can't find them.
Then there is the Zuri Invest Physical Uranium Trust (ZPUT) subscription period which ends tomorrow. We will officially see how much $ they’ve raised. With ZPUT, there are now four funded buyers of physical Uranium. And rumor is there are four more financial players to come. This many buyers in a very thin market is bound to have an impact.
Also, the House and Senate have passed a bipartisan bill which prohibits Uranium. There are some exceptions allowed for a period of time but these sanctions are the closes ever to being signed by the POTUS. Sanctions are coming… just a matter of when and how strict they’re. So much bullish chatter, just a matter of time, huge appreciation to this sector is around the corner. Just have to stay long.
What to buy: The largest liquid way to play this is CCO CN/CCJ US. I’m not much with a crayon in my hand, but if Cameco breaks out through $40 it probably goes to $42. Joe Farrell, technician extraordinaire had this to say; “The stock continues to carve out a constructive multi-quarter ascending triangle consolidation. A sustained breakout above $41.00 would complete the pattern and count further technical upside in excess of $50.00.”
If you can go smaller cap: NXE, FCU, EFR ..."