Several years ago one of Japan’s nuclear plants nearly destroyed their entire country. The disaster at Fukushima was a spectacle to watch — as authorities attempted to avert a full meltdown only to basically give up and try to contain it. The result was massive radiation spillage into the Pacific Ocean — no big deal.
Today, due to the situation in Ukraine, Japan has decided that instead of buying natural gas from Russia and adopting a neutrality stance — they’d rather risk melting down their country again with nuclear power. Ergo, Uranium is +10% and uranium stocks are through the roof.
This might become something you see repeated around the world, as nations decide to boil water over daring to disobey Washington and buy evil Russian gas.
I missed most of the morning trade and the whole melt up. I am basically flat for the session and will begin my trading day now.
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Hah called it years ago. Was way early to the trade though so losses.
It’s not just Russia. China hates the fuck out of Japan. They need the isolated energy free from supply chains so China can’t blockade them.