The uranium spot price remains strong above $80/lb. The miners versus the metal are back to where they started, meaning both have performed roughly equally…

Now let’s look at the URA mining ETF…

The Sprott Uranium miners ETF got to within 0.03 Cents of the target shown in the U-Cast podcasts. That’s good enough for me, and it’s now a case of waiting to see how much of a pullback/consolidation occurs. It seems somewhere around 15-20% is possible in coming weeks, but we all know how volatile uranium miners are – they could surge higher at any point, and our URA trade will stay in play as long as we remain above $18.15

Finally, I wanted to look at URA versus SPX. Here’s that chart…

Here too, it looks like some kind of a pullback is taking place after the recent breakout (which confirmed our bull market thesis).

Conclusion: For those feeling nervous, or wishing to book profits, these pullbacks within a much larger bull market provide that opportunity. For those with longer term positions, the evidence continues to look good for the sector.

As always, not financial advice, but hopefully some good data to help you make well informed decisions (especially when coupled with sound risk & money management protocols).

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