Up 25% So Far
I’m starting to see a lot of Uranium news now. The spot price for Uranium hit $100 per pound, which is significant — it’s a psychological barrier that traders have been waiting for. We expect to see the price go to $125 or $140 per pound by the end of the year, but the $100 mark made the news and now more people will want to get in on the bull market.
I can tell that the general public is starting to find out about the uranium profits, since Cameco stock recently jumped up a few dollars all of a sudden. It would seem that Cameco would be a great Uranium stock, since it is the biggest Uranium producer in the world and is listed in the US markets (CCJ). However, what newbies won’t know is that Cameco’s biggest mine, Cigar Lake, is under water right now, which is what has kept the informed investor away from that company.
I’m more than happy to see the prices on my own stocks go up as demand from the general public increases. I just wish that I could invest some more before the hysteria catches on. My sandbox has grown by 25% since I started trading in early March. My hope is that it will grow to 50% by June, and then I’ll take some profits and reinvest in whatever Uranium stock is poised to jump.
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