Global X Uranium ETF (URA)

[PennyStockTrader2]

While this has been a painful drop, I have continued to load the longest dated options (April 2015 is as far out as one can go) as I have done with KOL and FCG which are in a similar boat. The premium is around 40 cents, which for ETFs that in the past have traded at much higher prices, is a small amount to pay for the leverage (though I wish they would have longer dated ones). I think the worst is over for this TRIO, we'll see. Seeing them rebound to even $11 or $12 level would be a nice profit.

[Pro-Life]

A decent jump on Friday... U308 price, like many commoditiues, is still depressed.

[Pro-Life]

Still drifting lower... but did it bottom end of July???

[JohnCM]

Yes ... thru 15's then hopefully you would be set. SLW too ...

John

[OTCdoc]

Gold Corp still at a good entry point perhaps, $14ish

[24seven]

URA "Kyushu Electric Power Co. will begin bringing online the No. 1 reactor at its Sendai facility on Aug. 11, start power generation as early as Aug. 14 and return it to normal operations next month, the company said in a statement. Two of its reactors on Japan’s southern island of Kyushu are the first to pass tougher safety checks set by the Nuclear Regulation Authority, the agency created after the Fukushima disaster, and to overcome legal challenges."
http://www.bloomberg.com/news/articles/2015-08-10/japan-returns-to-atomic-club-with-restart-amid-public-opposition

[Thanksforplaying]

Nice move today. Lots of summer selling the last couple months. This could rebound nicely in fall, to the 11 buck range

[JohnCM]

Every one of Japan's reactors is offline.

[geosing]

Fresh new lows all around with DNN leading the pack. The forest fire could affect CCJ's Q3 earnings - tough situation when earnings growth is lacking in the whole sector. CCJ reports for Q2 this Thursday (July 30).

[JohnCM]

Might be looking at the bottom here. If Denison bottoms, uranium may bottom.

[geosing]

Speculative long term "investment" at best at this point. I suspect a long period of basing while the fundamentals change for the better. Playing for a bounce may not be very prudent, as the trend is downwards.

[JohnCM]

Why play uranium for a bounce when you could have purchased Goldcorp for $12.50?

[geosing]

Feel free to discuss any component of URA. I think a buyable bottom is not too far off, as Japan is beginning to turn on plants and India seems to be buying a lot too. I trade only indices, except select commodities (grains), but others may be interested in individual names.

[FullDeck]

Tough, but maybe overdone?

While URA (U3O8 miners' ETF) has declined over 40% from its November high-



the U3O8 Spot Price (maybe not the BEST indicator, but I can't find a chart for contract prices) has only gone down less than 20% from its November high:



Still not a fan of the ETF, but maybe this a sign that the miners' collective drop could be somewhat overdone?

JMHO

Best to all.

[FullDeck]

Agreed, consolidation is inevitable in the current space, geolist.

And agreed that URA is a bit illiquid (but that can be said of a lot of the junior players also)

That's why I'm staying away from the URA ETF and looking for individual companies in the space that I think are positioning themselves well for an upturn.

This isn't the appropriate board for me to go into my main pick, so 'nuff said.

Best to all.

[JohnCM]

Pretty tough ...

[geosing]

Consolidation is inevitable in this illiquid, secretive market.

[geosing]

Spot prices are steadily eroding (36.25 now). Till this bottoms, all associated stocks will be under pressure. But URA is losing like 1 to 2% every single day - this means that there is serious selling pressure in all the underlying stocks. Short sellers are having a good time, for now. I am sure the Uranium buyers are locking in low prices. So a rise in U308 spot may not immediately translate to higher stock prices for the miners. (Reverse of the $50 contracts being filled now). Lots of overhead resistance as well as investors bail at cost if and when prices rise.

[FullDeck]

Yup, the uranium sector as a whole has been tough since Fukushima, that's for sure.

I can understand your decision to wait for some sign of a reversal in the group.

URA is an index fund for uranium miners and processors, and I think the overall market will still take some time to come back.

I've been dabbling in UUUU (Energy Fuels), which I think is doing the right things in the downturn- conserving cash, keeping projects in "ready" states, proceeding with permitting, doing cheap (hopefully) acquisitions (URZ merger, URRE property purchase,etc) filling long-term supply contracts in the $50s from buys in the spot market in the $30s while conserving their stockpile as best they can, etc.

But UUUU is now heavily shorted, for whatever reason (re-balancing?), and has been extremely volatile.

GLTY and GLTA.

[JohnCM]

Denison is having a rough go of it ...

[geosing]

After a brief deadcat bounce, the downtrend has resumed to close the week at a new low. No sign of strength whatsoever. Dropping this one from my watchlist till there is some sign of a trend change.

[FullDeck]

Thanks, geosing. Very helpful.

[geosing]

Yes, Uranerz was a holding (Abt $8million worth per last annual report). So one of them has to be converted Uranerz shares.

[FullDeck]

Question for URA holders:

RE the URA components, as referenced in this UUUU post:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115420794

does anyone know if Uranerz DID occupy one of the Energy Fuels slots prior to the UUUU/URZ merger:

For reference:
http://www.globalxfunds.com/URA


Thanks in advance and best to all.

[Thanksforplaying]

Exactly. Prob a great buy if you are willing to hold a couple years but short term bottom could be around 6

[geosing]

Falling knife. I thought it will start building a base around 9.20 (6/19 high volume low), where my stops were. No way to call a bottom till there is some sign of strength. Cannot even make a higher high intraday. CCJ down big today, making a new yearly low. Not helping URA much. Waiting for a close above 5DMA - which is at the 9.20 level as of yesterday's close. Large bids at 8.60 probably fake ones to encourage the little people to buy. Or ould well be a bottom of some kind. Dead money for now.

[JohnCM]

Tough chart. Will bottom $7.00 - $8.00??

[Thanksforplaying]

Yeah. Can't believe they held so much ura. Hopefully they sell and buy ccj instead. At least fund gets a div with it

[geosing]

The fund seems to be reducing UEC holdings, which is a good thing in the long run. URA has lost the $9.00 level. CCJ is approaching its year low. Hopefully there is support for CCJ at 13.50. URA 5 day average has been stiff resistance since May. Has to close above 9.50 on a sustained basis for this MA to turn up. 4% yield does not mean much when the equity loses 2 to 3% every single day.

[JohnCM]

Good analysis ...

[geosing]

Post-Pukushima bear market continues, with holdings in small companies like UEC causing periodic elevator ride down. Uranium pricing and demand picture are shrouded in secrecy so any kind of fundamental analysis is impossible for retail investors. Hopefully the usual last quarter rally is robust this year. Demand should come from Asia. If Japan restarts some plants, it may change the psychology a bit. Chart-wise this looks like a nuclear disaster. Brief foray above 200MA average evaporated quickly and $10 which provided a floor in the first few months of this year has been broken, with every intraday rally being sold into.

[JohnCM]

Not sure what the selloff is all about. Have not been following ...

[Pro-Life]

Time for a bounce, perhaps??? URA

[Pro-Life]

After piercing the MA200, there's been a TOTAL collapse...

Time for a bounce, maybe?

URA

[Thanksforplaying]

Lots of the down pressure comes from the funds holding of uec. If uec can sort themselves out it will be a good. But overall weekness in uranium is a double whammy. I think this is a good place to start picking away. I bought some yesterday and have an order in the high8 bucks

[geosing]

Back at the lows, which was expected. If this trades consistently below the lows in the coming days, may have to wait for some sign of strength. Totally absent right now. No floor so far. Had to liquidate the speculative buy aka catching the falling knife.

[geosing]

Probably. Trap door sprung, stops cleared out and also likely filled some large orders in the sub 9.60 price levels. It was worth taking a speculative position. The high volume low bar is likely to get tested again. If it holds, we may have seen a low. Of course it depends on what the spot price do as well as the dollar.

[Thanksforplaying]

Looked like a lot of guys stopped out when it went through 10 bucks this morning

[geosing]

Measured move target reached. May be some sign of support now? Unless there is going to be zero demand for uranium oxide.

[geosing]

Relentless downtrend
Looks like it is heading towards 9.65 or so. Thinking of a long term position, if it bases there. Till CCJ et al stop the slide, it seems, money is flowing out of URA. Cannot see any kind of support.

[Pro-Life]

Lots of sideways action of late...

[Pro-Life]

Uranium Mining Companies Listed in All Countries

http://www.miningfeeds.com/uranium-mining-report-all-countries

[Pro-Life]

No sooner does it rise above, it falls below... time is throwing all bull riders .

[Pro-Life]

Shout from the mountain... URA closed ABOVE the MA200!!!

[Pro-Life]

URA jumping a bit today... strong, steady up all day... NICE!!!

[Pro-Life]

No traction just yet... watching U308 prices as well. URA

[ospreyeye]

$URA chart - keep an $EYE out for close ABOVE the 50 DMA @ 10.96 - that will be $Bullish $Signal MM's run higher IMO -

[PennyStockTrader2]

Just based on the amount that this has dropped from the peak, a bounce should take it to at least $15/share. And from the peak, how many other non-leveraged ETFs have dropped as much, GDXJ certainly, not even KOL, can't think of any others. This should rebound nicely, regardless of any huppla, good or bad, surrounding uranium commodity.

[Pro-Life]

Still waiting for the big move...

[Pro-Life]

No traction here at all... weakness in this sector as well...

URA