Some Market Thoughts Including: QUC.V – CAN.V – STEC – U.TO

by Olivier on October 27, 2009

The picture hasn’t really changed. The markets continue to be weak and technical damage is increasing day in, day out. A few stocks like WEE.V – Wavefront Energy can buck the trend, but it feels like they are really swimming against the stream. With most of my positions I am seriously starting to get the feeling I am not going with the flow anymore. I am still being patient but my patience is slowly coming to an end. For now I consider VEN.TO – Ventana Gold and BXI.V – Bio Extraction by far my two biggest positions and my best performers worth holding. I might consider selling some of my other positions as they are not acting that well anymore. The next two weeks will be telling.

A few thoughts on various stocks. You can easily access all charts on my Public List:

  • QUC.V – Quest Uranium: PP (Private Placement) closed today. Deal went through at 2.30. Considering the stock is trading below 2.00 I would expect quite a few people to consider these prices to be a bargain. I expect the stock to bounce soon. If it does it should be able to drag all the other REE stocks to the upside. If that move is indeed to happen it will separate the wheat from the chaff.
  • CAN.V – Canaco Resources: Considering recent news I still think this one has great potential. But the facts are obvious, traders clearly got trapped. Percentage wise this has already turned into a big loss. The stock is hitting gap support so I am willing to hold on to it. I might get out anytime though.
  • STEC – Stec Inc.: STEC is soon going to hit its MA 200. STEC was one of the best performers during this rally. Maybe its days as the leading stock during this up move cycle are over. But a famous stock market adage states: ‘Buy the first pullback’. So I have somewhat mixed feelings about that one. I still think it is a good gauge and I am using it as an indicator to see if the markets can start to bounce.
  • U.TO – Uranium Participation: This is still way too early to tell but it looks like we could be in the early stages of a trend change. The uranium mining sector might enter an up-trend in a month or two. Let’s see what happens.

Administrative note:
I am having some minor technical issues and right now can’t update my ‘About’ page. The XML sitemap is not working either. This will be resolved soon.
Thank you for your patience and continued support!

Have a great evening!

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