Saturday, January 06, 2007

Uranium Stocks Correcting III

Trading week was done with progressively smaller corrections in both the TSX and Venture Exchanges, with some opportunistic buying at the end as bargain hunters stemmed the red tide somewhat. Uranium stocks were fairly mixed as a whole, with about half of the top twenty uranium junior by market cap rising and, in general, none of them swaying by more than a few percent. Whether or not this signifies a bottoming out of the correction is uncertain, however, as one needs to look at the broader market. In the past year, the TSX to me has had two significant corrections of >500 points and they both lasted longer than three days. Whether or not this trend continues, however, is a matter which I feel unqualified to settle. I myself have been hunting for some reasonably-priced stocks: UR-ENERGY (TSE:URE) is one of my picks that seems to be fairly attractive at the moment compared to its peers.


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