Is the Consolidation Over?

by JDH on January 11, 2007

It has not been a great start to 2007.  As of the end of trading yesterday, my portfolio is down 10.5% this year.  Not good.  However, it was up 94% last year, so I’m only giving back some of the gains I made in the last month of 2006.

I suspect that many investors are getting worried.  A one or two day correction is no big deal.  No-one panics.  A two week correction starts to make people nervous, and people start selling.

I’m not selling.  Nothing has changed in the uranium market.  The fundamentals are still great.  People take profits off the table.  That’s normal.

I hope the consolidation is over, but either way, for now, I’m holding.  I’ll review everything in more detail this weekend, but for now, I see no reason to panic.  In fact, there are probably some buying opportunities (PAA.TO for example)?  Stay tuned.

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