Unbelievable! If I have not seen it myself, I would not believe it!
I’ve been following uranium for years but due to the downdraft early in the year, I completely sold out all shape and form of uranium stocks. Remember, it doesn’t matter if I like something, I MUST follow my KING (price action) and protect myself. One of the super high-beta uranium stock I like is USU. From 2011 to now, USU has been on a dead spiral and as far as I was concerned, it was marked for death due to starvation and uranium exposure.
Then 3 days ago (on Wednesday this week), Uncle Sam decided that USU must be saved! In a quick and efficient manner that is a rare sight these days, financial fuel was forced feed on USU and the poor guy just bounced back from near death! Whoa! My baby is alive!
What do you think? Of course, I “nibbled” my way back in USU. However, in order for this baby to grow up to become a giant it was designed to be; more financial fuel has to be available. USU needs that 2 billions loan guarantee from Uncle Sam and you know how the political situation is in DC. You will think that someone who opposed the funding of USU is thinking that a mutant is being created…
Anyway, I’m in for this high-beta kick ass risk-explosion bet. Yes, I only buy enough so that when this little mutant blow up by accident, I will probably only lose a finger…
Good Hunting!
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Holding a very small position in $DNN myself. I think until the euro crap sorts itself out and growth picks up there won’t be much movement. Still holding as part of my energy portfolio. $UNG is the largest position there.
I like DNN as well; but I will wait until the price action shows some uptrend movement.
UNG…Ouch! You know UNG is a depreciating asset, right? When I want gas, I buy CHK.
I write calls against it to cover the cost of carry. Works like a charm. Just takes a tiny bit of work.
If you write call against UNG, wouldn’t that defeat the purpose if UNG take off like a Barracuda?
Bought CCJ and DNN as starter position. I’m seeing an awakening in the uranium today. Let’s see if it will continue next week.