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Looks like it wants to break out...
Jan 25, 2009 02:16PM
If you look at the charts, LAM appear coiled and ready to break out. In fact many of the uranium stocks look like they have broken their down trends and bounced hard. (ie. mga, pnp for example, but look at many of the juniors) If U308 can move higher, which it is forecasting on a longer term basis it may be the catalyst uranium needs to advance...most uranium were also on a long term down trend a this reversal could be the next leg up...it was due anyways as many were oversold..
"The uranium spot price stands at $51/lb according to TradeTech with the long-term price of uranium trading at $70/lb as depicted on the chart above."