Monday, September 26, 2005

Cameco



Despite the fact that all the momentum traders sold energy stocks today because the hurricane failed to deliver significant damange, energy stocks rose strong into positive territory at the end. The reason is because all the long term investors saw the buying opportunity and jumped in.

With the price of uranium increasing steadily every week with no signs of slowing down, it only makes sense that Cameco will also increase. I still maintain my 80 dollar target before the end of the year.

Also, with energy stocks displaying strength today, I wouldn't be surprised of oil prices rise to record highs and "shock" the investment community. I am bullish on energy stocks.

Disclosure: I am long Cameco

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