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« Marin Katusa Values Viable Technologies and Leadership | Main | Rick Rule: Courage of Conviction »

Denison Mines Corporation up 3.33% Today

DNN Chart 02 November2010.JPG

As we can see from the above chart Denison Mines Corporation (DNN) has now doubled in price since July, also note that the volume of trade is increasing which bodes well for Denison's future progress. The technical indicators are a tad overbought but nothing that some sideways consolidation cant resolve. The RSI is currently standing at 64.77, so there is still room for some upward movement in the stock price.

Taking a quick look at just what others are saying regarding Denison Mines Corporation (DNN) we have the following four differing opinions as below:

Thomson Reuters: Under Perform
Smart Consensus Report: Hold
Market Edge Second Opinion: Long
Raymond James has raised Denisons target price to $2.60 from $2.40.

No real change since the last time we checked on these forecasts and nothing conclusive here so we all need to do the work. Our opinion, for what its worth, is that Denison will continue to make progress and should uranium prices gain any sort of traction then we would expect Denison to do very well indeed.

The spot price of uranium is improving as we can see on the chart below, so, hopefully, things are looking up for Denison Mines and this sector in general, so you just may start to consider acquiring a few more of your favourite uranium stocks on a gentle but steady basis. Layering in over the next few months could prove to be a successful strategy as this tiny sector comes out of the doldrums.

Uranium Spot price Chart 02 November 2010.JPG

We covered Denison in a bit more detail recently in an article entitled: Denison Mines Corporation: Up 7.32% Today on heavy volume

We purchased Denison Mines back in January 2009 for $1.66 so we now have a paper profit of 29.94%, so at least its a step in the right direction. We may pick up a few more on dips in the future, but we have yet to make that decision. We will of course keep you posted if we do decide to commence buying in earnest.

Denison Mines Corporation trades on the AMEX under the symbol of DNN and on the Toronto Stock Exchange as DML.

Market capitalization is $737.19 million, average volume is sub 1.0 million shares traded, however, spikes can see 3.0 million shares change hands, 52 week high $2.24, 52 week low $1.08, closed yesterday at $2.17.

Back to our latest venture which was the launch of an Options trading service we are pleased to report that it is going very well so its a big thanks to all those who have signed up for it and the supportive emails that you have sent us.

Our premium options trading service, SK OptionTrader, has opened and closed 12 trades in the last 6 weeks, banking an average profit of 70% on these trades.

This brings our total of closed trades to 38, with 36 winners. This means that a subscriber who had invested $1000 in each of our 38 trades would have banked profits of $15,636.00. We have just posted a set of charts demonstrating the importance of timing in any trade on gold-prices, please click here if you are interested.

SK Chart 23 Oct 2010.JPG

The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today?

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

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Reader Comments (12)

Hate to be a party pooper, but this stock was trading around THIRTY DOLLARS a share a couple of years back, so sorry if I don't get excited over a "double" from a dollar to TWO dollars. Zzzzzzz......

November 2, 2010 | Unregistered CommenterJoeBronx

So Joe just what are you into these days?

November 2, 2010 | Unregistered CommenterUranium Stocks

The main reason I have a chiropractor on retainer is from the whiplash I have received from following Crosshair over the years.

I just bought URE and will hopefully allow my neck to heal with this one in a couple of years.

Prayer helps

November 2, 2010 | Unregistered Commentertsunami

Looks to me like it is going into consolidaion here.It does not matter if the stock was much higher two years ago if you bought in July you have doubled your money. It only matters if you did not sell before the 2007/8 crash and are waitng for it to recover.
I repeat that until all the new nukes come online all the new mines will have no one to sell to ; Russia has already tied up Switzerland , a large part of the USA and France in long term contracts. Slow progress from here but I hope I can return and say I was wrong !

November 2, 2010 | Unregistered Commenteruranium bug

Indeed it could be slow, however, things can soon change so we will keep a watch.

November 2, 2010 | Unregistered CommenterUranium Stocks

Up another 6.91% today

November 2, 2010 | Unregistered CommenterUranium Stocks

DNN Up another 13.79% today, so still going well.

November 3, 2010 | Unregistered CommenterUranium Stocks

"So Joe just what are you into these days?"

Same ole, same ole. You know, dressing in woman's undergarments, hanging around the mens' room at Grand Central Station. Why do you ask? ;-P)

TSUNAMI: May I ask how you got whiplash from Crosshair? That would imply that the stock has gone back and forth in a rapid manner over a set amount of time, right? I've owned it since it was $3.00 a share, and it has been doing nothing but going DOWN, DOWN, DOWN, ever since. And it seems the better the news releases are, the WORSE the stock performs. Have you noticed that?

November 3, 2010 | Unregistered CommenterJoeBronx

Joe, you can criticize us all you want on this site, but not other letter writers, thanks, Bob

November 4, 2010 | Unregistered CommenterUranium Stocks

Actually, I thought I asked a perfectly valid question, and I don't see how anyone would be offended by what I wrote. Oh, well.

Anyway, thanks for giving me the right to criticize, YOU, Bob; you're next! ;-D)

November 4, 2010 | Unregistered CommenterJoeBronx


Your question remains intact, only the reference to another writer has been removed as we thought it was unfair to do so.

Keep your comments coming though as they do serve as a reality check for all of us.

November 4, 2010 | Unregistered CommenterUranium Stocks

Oil is on the way out, it is getting a bad name and past the peak. Coal is dirty with an even worse name than oil. wind and solar are useful but can never fill in the energy gap that is coming. That leaves natural gas and nuclear, natural gas to provide motive power household use whilst nuclear to provide exectrical energy. So lets get sensible. Firstly no nation is going to abandon nuclear weapons and secondly there is not enough uranium to fuel planned nuclear power stations let alone those yet to be planned and built. Markets act in anticipation, The rise up to 2008 in uranium shares was anticipation that was too early IMHO but now it may well be different. The fact that Dennison was up to $30 dollars at one time [Was it really} shows the potential of the shares and what can one lose by buying Crosshair now? IMHO uranium shares have much further to go especially since the chart of uranium looks like the one of gold ten years ago. You all do whatever you want, I do not give investment advice but FWIW I am buying. Roger.

November 9, 2010 | Unregistered CommenterRoger Levinson

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