Thursday, September 6, 2007 at 09:42AM
It is disappointing for the holders of this uranium stock, as there as yet appears to be no signs of recovery for one of this industries favourate uranium plays.
The chart tells us everything, from a high of $4.00 to $1.23 for a fall of some 70%. Other stocks in this sector have formed a bottom and would appear to be on the road to recovery. Crosshair has hit the bottom but maybe now we will see some consolidation at these low price levels before confidence returns to lift this stock back to its former glory.
We have traded this stock in the past but are reluctant even at these prices to make a purchase. Crosshair will remain on the Watch List until we see some signs confirming that it has indeed stabilised and can head higher.