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« Uranium down $2/lb, but stocks stir! | Main | Major decisions await the next President »

Uranium stocks get a boost!

LAM logo 10oct07 ................ mega logo 10sep07

We have only 2 BUY recommendations in our portfolio of uranium stocks at the moment and they are Laramide Resources Limited and Mega Uranium Limited both up today, 22.37% and 22.95%!

This is what we wrote in the portfolio update, which as you know is published free, on this web site.

Laramide Resources Limited – Buy
This stock was trading for about $5.00 last month and closed yesterday at $3.63, we bought at $5.78 on the 28 July 2006 so we are now in the red with this one. When we were sitting on a paper profit of around 80% we sold half in order to buy other uranium stocks, as we needed a bigger spread of stocks at the time. Laramide may have formed a bottom at $3.00 however we need a little more time for a confirmation.

Mega Uranium Limited – Buy
We bought MEGA at around $4.0 on 27 July 2006. MGA was trading at $3.32 last month but has since dropped back considerably to close at $2.38 yesterday. Hopefully Mega has found some support at $2.00, which appears to be very cheap buy at the moment.

LAM is trading at $3.72 and Mega is trading at $2.25 as we write, so if you did bag a few shares at those levels then well done to you. However, we aware that one swallow does not make a summer, but this move upwards will bring some relief to many investors. We adopted a strategy of grin and bear it and there hasn’t been a lot to grin about lately. We have not sold any of our stocks during this grim period and continue to hold on to what we have at the same time we are looking to increase our holdings in this sector. The time to buy is when there is blood in the streets and this sector has been severely beaten up. We may see some retraction after such a jump in uranium stocks prices as some investors choose to take money off the table, hopefully this will be short lived.

We will continue to watch for signs that confirm that the market is about to rally. Gold and silver have also put in a good day so the temptation for investors to transfer funds from uranium to the glittering sector beckons brightly, draining some funds from this sector.

Going forward we see all three metals finishing a lot higher come the end of the year. However uranium will be coming off a much lower base and in terms of percentage increases could well be the star performer over the next twelve months. Once again it’s your money and you must make the final decision, we can only call it as we see it and invest our funds in a way that suits us. One strategy does not fit all investors, so read as widely as you can and take charge of your own investment decisions.

Go Uranium’s go!

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Reader Comments (2)

Both LAM and MGA held up well today after their massive upward move which is pleasing.

We also noted today that CXX moved up 23.61% in an interesting reversal of its downward trend.

May 10, 2008 | Unregistered CommenterUranium Stocks

You wrote:

"...... we see all three metals finishing a lot higher come the end of the year ......"

Regarding uranium, would you mind telling us what the above is based on. Seasonality?

Do you know of any writeup by brokerage firm(s) on price projection?

May 11, 2008 | Unregistered CommenterSharp

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