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« Rampart Ventures Inc: Interesting chart | Main | MEGA URANIUM LIMITED: Set to go higher? »
Sunday
Feb182007

Laramide Resources Ltd: Up 50.22% in 4 weeks!

lam2

A sparkling performance by Laramide makes this uranium stock one of the hottest stocks to hold in the uranium market sector.

On the 15th January 2007 Laramide was trading at $C8.72.
On the 16th February 2007 Laramide was trading at $C13.10.

This equates to a rise of $C4.38, for a gain of 50.22% in one month.

Don’t buy the baby a new hat just yet. This sort of performance could well attract a little profit taking and on a slow day that could bring us down with a bump. As we have repeatedly said, this is a thin market and any uranium stock can be pushed up or dragged down by a smallish amount of capital.

chart
lam18feb07




Again we repeat that this uranium stock is one of our bankers for this Bull Market in nuclear energy, however the signs are that it is overbought from a technicians standpoint. This stock has moved up a long way from its own 200 DMA and the Stockastics and RSI are bumping against the ceiling at the moment. So just be careful, as this is uncharted territory in our opinion, Laramide could keep on running after all the uranium market is starting to get a little more recognition generally speaking. With 53 million shares outstanding and a market capitalisation of $C704 million this is not the biggest company in the world and for us still has a long way to go.

Fortunately the chattering classes still have no idea what we are talking about when we throw such names into a conversation about investment. We are countered with their latest take on an industrial stock that was fashionable when I was a kid. Someone told me with all sincerity that Green Peace would not allow nuclear power to be considered in the debate over future energy requirements. It makes us wonder whether or not we have actually entered phase two yet!

We are growing more confident with every day that passes that uranium will hit $200.0 a pound in the not too distant future.

Finally, on second thoughts buy the baby that new hat; it will be the best investment, in terms of happiness that you can make.


Best wishes.


Laramide trades on the Toronto Exchange under the symbol of LAM.


18 February 07




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Reader Comments (3)

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February 18, 2007 | Unregistered CommenterDon Babinchak

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February 18, 2007 | Unregistered CommenterBob

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