Friday, February 16, 2007

Dow hits all time high of 12767

  1. Dow hits all time high today, 3rd day in a row.
  2. Nasdaq was flat.
  3. I was busy today and placed lot of trades, used all the fund from FRG I sold this week, and also used cash to purchase uranium stocks of EMU and URZ.
  4. I think long term uranium stocks should do really well, and since FRG did great recently, and also got lot of publicity, I found articles and technical analysis about FRG. Traders love FRG. I decided to sell FRG and used the money to buy two relatively unknown stocks: EMU and URZ.
  5. Based on the reserves EMU and URZ have, they are trading at a great discount to FRG, even considering FRG's gold reserves.
  6. Upside potential for FRG is, it's a discovery company and can announce new discovery. But from pure uranium perspective, EMU and URZ are better.
  7. PM continued to consolidate, I think they're taking a break before the next major up trend. Considering their great run recently, SSRI and PAAS are doing well today.

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