Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« Could this be Bigger Than Watergate? | Main | Cameco Corporation looks ripe for a short »
Monday
May042009

Cameco PUTS wait for it

Today we thought we would be buying some PUTS on Cameco Corporation (CCJ) however the market took off with the DOW adding 214 points or 2.61% on optimism for the banks. Our tiny sector took off too, with Denison Mines, for example adding $0.47 or 23.62%. In turn Cameco also gained adding $0.75 or 3.07% by the close in New York.

We are still of the opinion that it is good for a short however timing the entry into such a position is critical to the success of the trade. If we look at the JUN-09 $25.00 PUT (CCJRE) as it was one of the most actively traded we can see that it closed slightly lower at a $1.95 when compared with the previous days close of $1.99. If this stock continues to gain then the likely hood of a correction becomes more of a possibility and the cost of buying the PUTS becomes cheaper. For now we will watch the action closely and try and determine a suitable entry point.

Have a good one.

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

These are fast changing times and its essential that you stay up to date with what is going on in the market. For our latest commentary and trading signals on gold, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.





PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>