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« How Obama Will Influence Energy Stocks | Main | Trigon: Re-visited »

Crosshair Exploration and Mining: Up on heavy volume!

CXX Chart 28 Jan 09

Chart courtesy of

As we can see from the above chart the recent volatility continues with dramatic oscillations in Crosshairs stock price, which is just managing to hold above its 50dma. The volume has been heavy over the last two days with 1.4 million shares changing hands yesterday. The technical indicators are heading north which suggest that the stock price should continue to improve from here.

We have owned Crosshair in the past however we sold our stake on the 5th February 2007 we wrote the following:

There are times when we just have to bite the bullet and be happy with a small profit for now. We bought in at between $1.86 and $2.00 on 25th September 2006 and sold for around $2.60 today. So using the $2.00 level for calculation purposes we are banking a profit of 30% made in just over 4 months.

Having recently purchased this uranium stock at $0.25 on 6th January 2009 we now hope to participate in its recovery and generate a small profit in the not too distant future.

Crosshairs market capitalisation is $20.87 million with 94.87 million shares outstanding, the 52-week high is $0.99 and the 52-week low is $0.09 and is trading at $0.22 as we write.

Got a comment – then fire it in!

Have a good one.

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Reader Comments (8)

So what do you think this huge volume and spike was due to ???

January 28, 2009 | Unregistered CommenterRon L

Can anyone comment on the current NAV and/or Debt levels of this company? How long is it likely to last if it receives no income?


January 29, 2009 | Unregistered CommenterNick Outram

Oh no! Looks like The kiss of death has struck again! No sooner do you speak glowingly of Crosshair because of it's stock price on 1/28 than it's stock price falls off a cliff, down around 30% in four trading days! Your predictions are uncanny -uncanningly WRONG, that is. And, as I recall, you recommnded CXZ at 25 cents a week or so ago, and it's down by half in nine trading days! Ooffa! Too bad you can't go short or buy put options on these penny stocks you tout; I'd make killing, I tell you. May I ask a favor? Just tell me which one of the uraniums you sicerely HATE out here. I'll buy it by the trainload, and will send you the most expensive Thank You card I can find. Deal?

February 2, 2009 | Unregistered CommenterJoeBronx

By the way, let me know if I start to get annoying.... (;-P)

February 3, 2009 | Unregistered CommenterJoeBronx

JoeBronx, We cant hide from the truth, nor do we wish to, so keep your comments coming.

We just may buy more Denison so look out!

February 3, 2009 | Unregistered CommenterUranium Stocks

Haha! A little lite humour to lighten the load.

Actually reminds me of 'the summer of 2000'. Oh how I remember those days. I was Long my favourite tech stock having ridden it from $10 upto $140, at this point it had collapsed back to $35 and no-one quite knew why...

The blogs -er; 'investor forums', where full of turnaround talk most people having bought in at $80+.

Some jokers where shorting and pasting comments like JoeBronx -we hated 'em but they where right in the end and made money -which is of course the primary purpose of a trader/investor.

The issue is one of overall market sentiment -this stock and the whole sector- needs much more macro ananlysis than simply saying "The technical indicators are heading north which suggest that the stock price should continue to improve from here..." and no, UraniumStocks did not speak "Glowingly" of this stock so you are both wrong.

May I sugegst a couple of articles/commentiaries with some good solid macro analysis of the sector, its drivers, how this links to the current economic crisis, the $, the S&P / DJIA correlation, etc, etc, etc.

Only when we see the big picture can we say that XYZ is likely to improve -determining the future from a chart of historic data is like driving by looking in the rear view mirror...


February 4, 2009 | Unregistered CommenterNick Outram

Btw. My tech stock in question ended up 2 years later down at $0.9 before eventually being de-listed... Sigh... I was locked in so $10,000>$140,000 and back again in a year, 'if only I had known then what I know now'...


February 4, 2009 | Unregistered CommenterNick Outram


Sorry to read about your tech stock experience, but we do appreciate your honesty. If and when the uranium sector rocks up we will need to be mindful of taking some profits on the way up.

February 4, 2009 | Unregistered CommenterUranium Stocks

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