Crosshair Exploration and Mining: Up on heavy volume!
Tuesday, January 27, 2009 at 5:05PM
Uranium Stocks in Uranium Mining Stocks
CXX Chart 28 Jan 09



Chart courtesy of StockCharts.com


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.

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