Yes, but the US Government is back, selling stockpiles. Note this line from Tradetech:

"On the supply side, the US Department of Energy this week issued a request for formal expressions of interest in the purchase of up to 250 tonnes of surplus, off-spec low-enriched uranium."

The government does the same with gold, selling into strength to support the dollar, and with oil, tapping the strategic petroleum reserve (albeit rarely) to stop a run in crude. Truth is, they are never very successful except in the short term.

Unfortunately for us they are selling into a market where purchases are still discretionary. That will change as we move into Spring, but this sale will put a damper on our rally. It will not have the same effect as the summer sale, but it will keep a lid on things a bit for a month or two.

But if history is a guide the government always, and I mean always, sells at the wrong time. In a way, I see this as suggestive of much greater price increases in the future.