Disconnect, page-7

I think the weekly spot U chart is very revealing. The last two failed break outs have been clearly exceeded. The pace of this breakout is steady in a way that points to a long term move rather than a speculative leaping up and falling back. The last 10 weeks are all finishing on and around their highs which points to the strength of the move. There is a positive RSI divergence comparing the last three peaks. This is all extremely bullish.

And then there is the narrowing gap between the Long Term price and the spot price. The (LT - Spot) peaked at $14 in Nov 16. It's now down to $5. When the spot catches the LT price, the any gains in spot will be reflected in LT gains. No miner will sign a long term contract below spot in the current environment. That is the point at which I believe we will see a major breakout in U stocks. Might coincide just nicely with the debt holders finishing their PDN selling. That's a fun prospect.

Cheers,
Tim.