What’s up with Mega Uranium (hint: it’s not the stock price)?

by JDH on December 14, 2006

What’s up with MGA.TO – Mega Uranium ? Unfortunately, not the stock price, which closed today at $4.90; as discussed previously, $5.00 is a major support level, and so falling below that level is not good news.

I don’t have a crystal ball, so I don’t know what’s going to happen next, but my guess would be a fall towards $4.50 or even $4.00 would not be out of the question. As a defensive move, if the stock falls tomorrow, I will start selling, perhaps up to 25% of my position. Long term Mega is a great company, but having some cash is not a bad thing, so freeing up a bit of cash, and hopefully re-purchasing at $4.50 or lower will happen.


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