RE: I don't normally comment on penny stocks on threads like…. .
Hi, 1 3/4
Sorry I didn't mean to bring up penny stocks here, agree there are lots of other discussion boards for that and this is should not become one of them.
As a general rule I don't even look into anything on US or Canadian exchanges which are OTC, Pink sheets or the Ventures exchange. And I don't even technically scan for anything less than $1 or has an average liquidity of less than $500K per day on a 50 day SMA.
However with the market sort of topping out since last fall I'm starting to see more and more of these popping up on some TA scans, most I just delete. But a few have started to look interesting on a short term basis, but very risky, volatile and the liquidity can change in an instant. For scanning I write my own using the Stockcharts advanced scan engine.
Not sure what the general cut off is here for stock price, or liquidity, or markets US, Can, would you please let me know, thanks.
As far as uranium goes I like the sector, demand increasing & shortage of supply, Cameco flooded mine in Saskatchewan, and today Energy Resources Australia Ltd (ERA) said it has declared force majeure on its uranium oxide sales contracts after heavy rainfall affected production at its Ranger mine and processing plant in Australia's Northern Territory.
So I've been scanning in that sector for interesting chart set-ups. There are only a few big board stocks and I follow them also but the action seems to be in the juniors. All of the ones below actually own old uranium mines and property around them, so there is lots of data and proven reserves. They just bought up old companies that shut down when uranium was in the $10 range, now in the $80 ++ range they can be very profitable. The only one I have a position in right now is TEL but I do think this sector can still go up in a bear market if the right stocks are picked, speculation plays will be the first to suffer.
stockcharts.com
stockcharts.com
stockcharts.com
Now VIT is similar but owns old Nevada gold mines.
stockcharts.com
For the general market I'm tending more on the short side, looking for future set-ups and re-writing some scans, in the mean time I'm just turning my secondary monitor upside down so I can get the Bear break-out feel on the charts.
Happy investing / trading
Quasi |
