Based Uranium Stocks

I posted a uranium stock with recent good news at the Substack. Here are other uranium charts of interest. I'm not buying here, but still hold many positions in stocks such as LEU, MGA, FUU, CUR and GLO.

Enriched Pop

URANIUM BEAR ARUGMENT: “The announcement today by the US government is just to build more enrichment capacity. Good if you're LEU. Irrelevant if you're anyone else. It basically going to all go to the centrifuge project that LEU (odl USEC) has. That was my read of it.”

According to Bloomberg, DOE officials met with key congressional staff, where they said such funding - which amounts to one tenth of what the US recently wired to the US military-industrial complex Ukraine - is urgently needed, adding that any interruption in the supply of enriched Russian uranium could cause operational disruptions at commercial nuclear reactors, the person said. US nuclear energy industry participants have also been briefed on the proposal; while the plan requires approval from Congress it is unlikely that lawmakers will refuse these relatively modest demands if the alternative is the threat of widespread blackouts and immediate political career termination. The proposal, Bloomberg continues, aims to spur development of more domestic enrichment and other steps needed to turn uranium into reactor fuel; It would also create a government buyer directly purchasing enriched uranium, including the type used in a new breed of advanced reactors now under development. The proposal is dovetails with legislation introduced earlier this year by Senator Joe Manchin, the West Virginia Democrat who serves as a key swing vote, and Senator Jim Risch, an Idaho Republican, that would authorize billions of dollars in funding to increase the country’s domestic uranium enrichment capabilities. Other congressional backers of expanding US enrichment capabilities include Senator John Barrasso, a Wyoming Republican who serves as the top GOPmember of the Energy and Natural Resources Committee. That said, even with billions in backing, it won’t be easy for the US to jump-start the domestic uranium industry. The country has only one remaining commercial enrichment facility - a New Mexico plant owned by Urenco, a British-German-Dutch consortium. While the immediate list of companies that would benefit from such a funding boost include Centrus Energy, which is building an enrichment facility in Ohio, and ConverDyn, a joint venture between Honeywell International Inc. and General Atomics that provides uranium conversion services, it is likely that the entire uranium space would move higher as the price of spot uranium will likely soar.

Uranium Stocks Soar On Report US Seeking Billions To End Reliance On Russian Enriched Uranium

LEU looks like it has a nice clean test of the base. The break of support will be a fakeout if this news continues working in a bullish direction. I own it.

 

I'm Technically Flat Now

I have been buying gold mining and energy shares, many listed below. These are small starter positions. Part of the reason for this is segregating my profits from options trading. I'm long energy as a hedge in case I'm wrong about it going down. I think stocks are done going down for a bit and look for IWM to rebound towards $209 per share as one example. The island top in Google is something I will be watching closely though...if that is a signal, it tells me the market might top out by Wednesday. I have short positions on a bunch of bond funds, TLT being the largest. Some of my positions are offsetting and the junior mining stocks are equity, not options. My VAR has collapsed after closing most options today.

If Short-Term Bullish on Uranium