Cameco Corporation rallies back
Tuesday, March 15, 2011 at 4:35PM
Uranium Stocks in Uranium Mining Stocks
ccj chart 16 March 2011.JPG

Cameco Corporation (CCJ) traded as low as $28.38 in today's trading session, however, as the day wore on Cameco rallied all the way back to $32.60. This is a super bounce back by the giant in the uranium space and hopefully it will set the scene for other battered uranium stocks to start on the road to recovery.

The politicians across the world are once again demonstrating just what a spineless bunch they are by running around threatening to halt various nuclear power plants and use something else that is a lot safer. Just what that new solution is we can only guess at. We have covered everything that we can think of from solar panels to Salter Ducks on this site and nothing compares with nuclear energy. Just our opinion of course.

Here is an example of the reaction in Europe:



Shocked into action by Japan's atomic crisis, European energy officials have agreed to apply stress tests on nuclear power plants and Germany moved to switch off seven aging reactors - one of them permanently.

The European Union's energy chief called for a reassessment of the 27-nation bloc's energy policy, and questioned what role nuclear power should have in the future.

"We have to ask ourselves: Can we in Europe, within time, secure our energy needs without nuclear power plants?" EU Energy Commissioner Guenther Oettinger told German ARD television.
Energy ministers, nuclear regulators and industry officials meeting in Brussels found "general agreement" on the need for tough tests to check whether the EU's 143 nuclear reactors could withstand earthquakes and other emergencies, Oettinger said.

The stress tests will be devised using the "strictest" nuclear standards in the bloc and be applied in second half of the year, he said, adding that plants that fail the tests would have to shut down.

"The authority of the test must be so high, that those responsible will have to live by the consequences," Oettinger said.

Earlier Tuesday, German Chancellor Angela Merkel said that seven reactors that went into operation before 1980 would be offline for three months while Europe's biggest economy reconsiders its plans to extend the life of its atomic power plants.

One of them, the Neckarwestheim I reactor, would remain shut down for good. Residents said living in the shadow of the 35-year-old nuclear plant is making them increasingly nervous in the wake of the events in Japan.

"It must be switched off," 32-year-old Anja Pfau told AP Television News as she pushed her 5-month-old boy along the street in a pram. "There are enough alternative energies like water power and solar energy."

A previous government decided a decade ago to shut all 17 German nuclear reactors by 2021, but Merkel's administration last year moved to extend their lives by an average 12 years. That decision was suspended for three months.


The question now is Cameco a buy at these price levels, we are taking a very close look and will let you know if we decide to make a trade.












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