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Gold/Mining/Energy : Uranium Stocks -- Ignore unavailable to you. Want to Upgrade?

To: smh who wrote (8729)	3/3/2007 3:23:45 PM
From: chowder	Read Replies (1) \| Respond to of 30080

I'm not sure that this correction is going to turn into a crash either. I'm just not sure price is going to reverse to the upside as quickly as it just fell, or as quickly as it rose before the recent correction. Why? The condition of the market has changed. Where the market was trending up and greed ruled the day, now we see the broader markets correcting and fear rules the day. Some of these U stocks fell 20% to 25% just in the past week. This type of price movement will slow down the momentum players. Some people will hesitate before buying into this sector due to the quick drop in prices. My guess is that it will take a few days, maybe even a couple of weeks for people to gain confidence again and drive prices higher. You may very well see the "buy the dip" crowd show up on Monday or Tuesday, but when you see a stock drop 25% in one week, a lot of people will have been caught by surprise and were unable to sell, or didn't sell because they froze. Many of them will now be praying that price will reverse so they can sell and get out even. This will put downside pressure on pricing. So, it becomes important to see if any rally attempt is met with more selling. I could be wrong of course. It wouldn't be the first time. We'll know how it plays out in the next couple of weeks. Then again, I may change my mind after Monday or Tuesday. It all depends on the condition of the market.