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« Cigar Lake: 2011 at the earliest! | Main | Uranium: Spot Price Up another $4.00 to $84/lb »
Monday
Oct292007

Mega Uranium: A monster move of 17.72% in one day!

Mega logo 29oct07

Uranium stocks went into top gear yesterday to obliterate the Monday morning blues and Mega Uranium put in a monster performance with an advance of 17.72% for a gain of $0.76.

Turnover was up from Fridays half a million to just over two million shares traded for the day. There were many super performances by uranium stocks along with Mega’s, which must have put at least a small smile on the faces of the uranium bugs worldwide. Mega Uranium closed at $5.05, which is double what it was in the middle of August when the sell off was at its worst.


Mega Chart 29oct07



As we can see from this chart Mega Uranium is fighting back in great style. Although we could argue that the technical indicators have moved from the buy range and headed towards the top of the sell area we think that any breather could short lived. The reason being is that the spot price turned up three weeks ago and it is the spot price that grabs the headlines. In turn the good publicity provides a little more in the way of confidence to investors who are looking for a re-entry point.

Anyway, breather or not Mega Uranium is still a good buy in our opinion so roll on more Mondays like this one.

Have a good one.

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Reader Comments (8)

Importantly Mega, along with a number of other U stocks seems to have breached the downtrend extending from it's April/May highs through the July/August small rally. Hopefully the increase in spot U will spur this and other stocks to higher levels. Others on my radar seemingly in the same boat are Aurora, Bayswater,Cameco (though remember a Cigar Lake update is apparently due shortly),Denison, First Uramium, Forsys, Laramide,Paladin, UEX (obviously), URE and Uranium One. Looking as though they may follow suit are Fronteer, JNN and Strathmore.

You can conclude from the above that I am hopeful of continued upside in U stocks and am hoping the Fed doesn't decide to maintain rates this week as that could undermine equities.......

great site

Bob

October 30, 2007 | Unregistered Commenterbob

Ya know, just when you try to stay ahead of the market, it surges ahead like a big roller coming in from the deep ocean and lifts some stocks up higher than you thought they would go in the next few days and then wham! you sold your stock before you wanted to. Case in point, Mega Uranium.
The fundamentals for a lot of uranium stocks are still looking good!

October 30, 2007 | Unregistered Commenterdaveydog

Stock vs. Warrant

The Mega Uranium Warrant is lagging. Is it a good idea to buy the warrant?

EP

October 31, 2007 | Unregistered CommenterEP

Holy CRAP did you make abad call on this one ....Big time MISTAKE.. this on bombed ...Down to .75 Cents now DEC 29 2009 . So NOW if you think its going up .. that would be better call because it is ...They have Better Results and Actually positive Findings and Actual a Better handle on what they are doing. They should be producing in 2011 Not very far away, the amount of money they will recieve is going to be very significant. Stock should be back in ther 5.00 range... So Recommend the stock now and look like a HEro.

December 31, 2009 | Unregistered CommenterWow.. a BAD call

ep,

Thanks for this, Merv also compiles similar data on both gold and silver stocks which sometimes pops up on Kitco.com.

January 7, 2010 | Unregistered CommenterUranium Stocks

Yes, Bob, I got the gold stuff in my mailbox.

Still watching DGC.to? RBI.to is doing well. Breaking out?
I also like AGI.to.

Feel free to transfer my comments to your gold newsletter.

January 7, 2010 | Unregistered Commenterep

ep,

cheers,

Bob

January 9, 2010 | Unregistered CommenterUranium Stocks

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