2) This will also turn specs bearish and fix the technicals. Also over the summer $URNM initially bottomed on 7/19 and then had a lower low on 8/19. If URMM bottomed on 12/30, it would be reasonable to expect a lower low late Jan-early Feb.
1) With everyone bullish #uranium (myself included) with the news about Kazakhstan, maybe the markets has other plans to throw specs off? $URNM and other equities started the year gap up. Save some powder because this large gap will get filled
Very well could be the reversal in #uranium I was looking for. Large down move to start the week while reversing as the day goes on. I bought a tranch of equities this morning.
!MCOSIRSPX(the SPX equivalent of $NYMO) closed at -105 which is the lowest level since March 2020. If this is the start of another crash it can obviously get more oversold, otherwise the odds for a low here(even if it's only a bounce low) are high.