Mar 30 Uranium Stocks Update: Paladin Resources (TSE:PDN)
Well, I sold some shares of my Paladin shares this morning to back up my ranting and raving. Managed to get it done at $4.40 Cdn. There will be opportunites to buy back the stock, but for me at least, it would have to dip below the 4 dollar mark before I give it consideration. Paladin remains one of my favorite uranium stocks, but I cannot justify to myself its current valuation.
posted by Spelunca at 5:26 PM
5 Comments:
I thought the same thing a few days ago when I sold 1/3 my position for 4.08. Hoping that I'll be able to get back in at a lower price, but if I don't at least I didn't sell it all.
This is a LONG term, secular bull market so my approach is to buy them and forget about them. This is an investment, not a trading vehicle. I'm long uuu, pdn, mga, and frg since november 05 and been adding to the ones that have gone up the most, but the rule is: only buy on down days. Doing the same for silver and gold physical.
Besides, look at the charts! I see nothing but uptrends and accumulation. Why would you sell? If you had invested in houses in 2001, you would have been out in 2002 and missed the whole thing!
Just my opinion. I'm an investor in uranium, gold, and silver. I'm a trader on some other things with more liquidity than these guys.
If I had to dish out 75 smackers each time I would have hung on as well. I only sold 1/3 of my position because I felt that it was getting a bit frothly. It had run up too quickly. Yes, given time it would have normally run up to this price, but just because of the speed of the runup...I decided to lock in some good profits. I'm still bullish on this stock and the sector and remain holding my core position and entering new uranium stocks on pullbacks.
Yes we are in a secular bull market, but we all know that even in these markets a 25% pullback is not unheard of. Think back as recently as last year's 'Red October' where you could have bought some really great companies at 10-20% discounts!
Bull or bear. We're all here to make money.
why don't you buy pinksheets instead of stocks? Can anyone tell me pros and cons buying pinksheets vs. the foreign stocks?
i didn't sell all my paladin, just took some profits. and i don't need to shell out that much to buy and sell because i am canadian.
my point was that the small juniors were way out of control. i'm still bullish on paladin but do you honestly think the common investor knows the difference between paladin and toro?
paladin is worth 2 billion cdn today. do you think the company is worth 2 billion? well, maybe, maybe not. i personally think that 2 billion is stretching it a little. but what about toro? think a small australian junior is worth 30 million just because it's (a) a new uranium stock and (b) australia signs an agreemtn with china?
rubbish..
all i'm saying is that we are due for another correction, but i will buy more paladin at some point.
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