Also worth realising that the LT U price hasn't broken out of a...

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fightinggreed

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18/09/18

14:22

Post #: 35673005
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Originally posted by radx ↑

You've got to ask yourself why the U-spot price continues to go up yet all Uranium stocks are flat or down...?

All Uranium stocks were going up at just the sniff of the spot price increasing.

Now the U-spot price is in a clear solid uptrend but Uranium stock aren't moving...
Why is that??
In my opinion, I believe it's from general market weakness caused from Trumps Trade War.

I wrote a couple of posts on the STT trading thread about it and how it's correlating with the stock markets.
https://hotcopper.com.au/posts/35663879/single

I believe Trump's trade tariffs are affecting all of the global stock markets very negatively.

My sell signal was if Trump would proceed in adding another (US$200bil) worth of tariffs this week as the Chinese have indicated they will pull out of talks later this month if he did.

Trump proceeding with adding the new tariffs last night.
So I went all cash except for a few shorts and Energy Fuels Inc (UUUU) which I've got a tight stop.

Unless Trump backs off some trade tariffs, I don't see this situation getting any better.
The trade tariffs are now also starting to impact the US stock market as can be seen by the large red candle from last night.

So I'm waiting on the side lines to see how this pans out over September and October.

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Also worth realising that the LT U price hasn't broken out of a 2 year bottom yet. The miners mostly sell into LT contracts so you can't really expect them to respond too much to spot. Whoever lends PDN the money to come off C&M (say $60m) will be looking for LT contracts as a surety that PDN will be able to pay their debts this time.

The good news is that the LT price will rise if things just keep ticking along as they have been.

Cheers,
Tim.

PDN Price at posting: 19.3¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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(20min delay)
Last $8.30		Change -0.010(0.12%)		Mkt cap ! $2.955B

Open	High	Low	Value	Volume
$8.21	$8.35	$8.16	$19.73M	2.389M

Buyers (Bids)

No.	Vol.	Price($)
1	9	$8.21

Sellers (Offers)

Price($)	Vol.	No.
$8.30	2693	3

View Market Depth

No.	Vol.	Price($)
10	433612	0.140
15	580980	0.135
12	228160	0.130
10	690000	0.125
12	234104	0.120

Price($)	Vol.	No.
0.145	466113	7
0.150	442890	9
0.155	357490	7
0.160	249999	9
0.165	881568	19

Last trade - 16.10pm 26/11/2024 (20 minute delay)

PDN (ASX) Chart

Also worth realising that the LT U price hasn't broken out of a...

Top Stories

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MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Black Canyon finds 3km worth of manganese after mapping and analysis at Wandanya

Buyers (Bids)

Sellers (Offers)