These are the best times for contrarians some of who are doubling down at these levels. They realize that big money continues to wait on the sidelines to enter the spot market. Uranium Participation Corp (URPTF) raised $58 million to buy spot uranium. There has not seemed to be much buying since this raise which may mean they are looking for a time to enter. When the buying begins look for the uranium spot price to gap higher. This recent capitulation in the uranium spot price to below $30 may signal the shorts are exhausted. After arguably seven years of basing, uranium has all the characteristics for a sector about to bounce off a major bottom.
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The Lower The Uranium Price, The Higher The Rebound
