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« FRONTEER DEVELOPMENT GROUP: Come and feel the Strength! | Main | Crosshair Exploration and Mining Corp: 100% Up! »
Thursday
Dec072006

Crosshair Exploration and Mining Corp: Hold

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We have decided to hold on to CXX and not to take a short-term profit. Crosshair will remain as one of our core holdings.

Crosshair is both uranium and a gold play and we are very bullish on both. By all means feel free to step out of this stock and wait for a dip and buy back in at lower levels. Beware though, the profit taking could be short lived and CXX could continue its upward charge fairly soon.

One of the reasons that we are taking this stance is because we detect a growing interest in this sector of the market.

As this interest grows more and more funds will be looking for a home as exampled by some of the uranium stocks experiencing sudden jumps in volume from their daily average of say 100,000 to 2000,000 plus. A tipster somewhere introduces a small uranium stock to his tip sheet and his reader’s pile in. A few days later the stock is back to trading its normal daily average. This will continue with one slight change. The number of tipsters will increase and the volumes will increase in unison. Then the investors who bought in the first place will see their investments improving and be convinced that their man is a genius and put more money in to the same stock.

We are a long way from the public going manic on stocks but things are starting to tick albeit slowly. We are no longer at the bottom of this market as the ‘stealth’ period is behind us. However we are at the beginning of phase two where more private investors get involved and some of the not so sleepy fund managers take a stake. This phase we see lasting for the next one to two years.

Phase three will follow on very quickly indeed when everyone and his dog are talking about which uranium stock they have just purchased, one of the signs that it is time to say good bye bull market and look for another play ground.

Good luck.

05 December 2006

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