Tuesday, September 14, 2010
Uranium (Laramide Resources)
Do you remember how heavily pumped this Rare Ear... I mean Uranium bubble was? Think about the self-promoter who dubbed himself the 'original uranium bug' and think about the legions of followers who took the hook.
Well, these creeps appear to have momo'd to other areas and new stories. Meanwhile, the bottom feeders of the world - those with an attention span beyond that of a gnat - see some ruined stuff to tuck away with the logic that 'hey, with a big picture global view, maybe there is value here after all; value on sale for 30 times less than the commodity hysteria bubble blow off in 2007.
Weekly LAM.to shows a trend line breakout, constructive MACD (still below zero however) recent AROON cross to up and the next resistance level up above, assuming of course the current breakout holds.
The U's are but the first of several sectors/asset classes that will be part of the NFTRH plan as we transition toward global realignment, which may be starting sooner than expected if weekly and monthly big picture charts continue to show the signs they are showing (see Hong Kong below as an example - the price target on EWH is much higher off the Ascending Triangle).