Crosshair: Is this as low as it can go?
Tuesday, March 25, 2008 at 12:55AM
Uranium Stocks in Uranium Mining Stocks
Crosshair Exploration and Mining Corporation put on 12.79% yesterday and still closed below a dollar, at $0.97.

Crosshair has suffered as much as any other uranium stock that we know when you think that it once traded at four dollars plus and a few days ago it was down to $0.86 per share! At this point we wondered just how bad it could get for Crosshair before the bargain hunters decided to step in a bag a few shares. Yesterday may well prove to be a turning point for this uranium stock as it finally joined in with a small rally that lifted most of this sectors stocks. From our mail bag we can see that Crosshair has many supporters so it is even more surprising to see it perform so poorly. On the news front there has been a revision to the bought deal financing and some changes to the management team, nothing drastic though.

Taking a quick look at the chart we can see what sad story this one is, a one trip to the bottom of the pit.

CXX Chart 25 March 2008

However, this uranium stock could now be the bargain of the week. At times like these we need to be alert and avail ourselves for such opportunities. If Crosshair is on your list to be accumulated then now would appear to be a reasonable time to make a move. We do not own this stock but we have owned it in the past and traded it for a profit but we will stay put for the moment and observe this micro market. It would be nice to consider it in isolation but we must remain cognisant of the economy in general and the financial system in particular, which lurches from fiasco to pantomime all in the same day. On the positive side the long term and the spot price for uranium is remaining reasonably steady, setting the stage for a small, if unspectacular, rally going forward.

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