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Gold/Mining/Energy : Uranium Stocks

URNM 58.61

-2.5%

Dec 5 4:00 PM EST

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To: tcd who wrote (9553)	3/27/2007 1:09:08 PM
From: chowder	Read Replies (3) of 30200

Re: URRE ... In that case, yes ... URRE is overbought. Being overbought can be very bullish though. Most explosive price moves can't happen until a stock is overbought. I own a position in GT which has been overbought since September of last year. The price has moved up 100% since then and has stayed overbought during the entire time on the weekly chart. Studies have shown that 70% of a stocks up move occur in a 30% time frame. This can't happen unless the stock first becomes overbought. When Stochastics move above 80, the equity is overbought. As far as taking advantage of a price move like URRE is currently showing, I posted a message last night on how to use an indicator that takes advantage of stocks showing momentum. Message 23403213 Once you've read the strategy in that message, here is the chart of URRE with the momentum band indicator.

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