Loading ...Uranium Ready to Move?
I have been following and trading Uranium for the past couple years. Using MGA.TO to trade it, and done fairly well. One of my better trades I have made was catching the big ride from 9 cents to 36 cents in the big run up in 2020/2021. Most recently I just sold 80% of my position at 22 cents after getting in at 17 cents. It looks due for a bit of a pull back and might get back in if/when that happens over the next couple weeks.
Chartology on the bigger tickers is interesting with Cameco looking like it just broke out of it’s large consolidation pattern and already back tested. It may be beginning the second leg of the 20/21 run.
Oddly enough the URA etf doesn’t look as promising, I struggled to find a clear pattern like CCJ has. It also is mostly lower highs and lower lows over the past two years while CCJ has beeng doing mostly higher lows and mixed on higher and lower highs.
Caught between thinking CCJ is leading the market, or CCJ is sucking in the last of the bulls before a big yearly cycle sell off.
Good Work Gus
Lots of Goldtenters follow UNG
Thanks
UNG? Natty?
Anyhow, be aware of URNM also, the Ux miners.
URA and URNM track fairly well, but my understanding is that URA is heavy on the uranium plant facility mfrs (ie, like a Westinghouse or whoever does that now).
My guess, in addition to the others who posted on CCJ vs. URA: URA has 48 stocks in their ETF. CCJ accounts for 25%, but the other 75% are going to influence URA price action vs just CCJ alone.
Good to know Pedro! that would make sense to why URA is lagging a pure miner like Cameco.
My thinking on the plant mfrs lagging would be either they are “diluted” to the uranium moves by the rest of the mfr they do, and that the current run may be more tied to expectations of uranium weapons use instead of power generation. I really hope it is mostly the former and not the latter.
I think Rule said Mega is a cheaper way to play NexGen.
Problem with NXE is it has become somewhat of a lifestyle company. Sure great resource, how management pays themself so richly that they have little incentive to develop it or to take a buy out deal. I have decided to avoid it. My big development play is Deep Yellow.
Deep Yellow:
https://www.youtube.com/watch?v=uwaNk4IafiQ&list=TLPQMjAwNzIwMjPtvSGxXvthYw&index=3
traderfromhell – yes i play mega because it trades at a pretty significant lower book value to the uranium stocks it holds. NexGen is the largest one they hold.
Plunger – thanks for sharing Deep Yellow, I’ll have to see if that is the better play instead of Mega going forward for me!