Today's action...Looks like...back to reality.

[Depleted]

Looks like a short term top to me, most U's still showing resistance from above when they approach their current downtrend lines. MGA could double top today, if it can't break above 2.83, so it is looks to me like it will go down again. We need some good news, (any good news) for the uranium sector. I am trying to figure out what else could help start a rally that actually breaks throught the downtrend. It seems to me that this rally is fizzling out real fast...thoughts Team? Thanks, D

[langman57]

I agree. Just like the markets, I can't decide what the *&^% is going on. I'm happy with all my gold positions, small & big, for the time being. Looks like PNP is having a good day. The other stuff, including U's, I'm just sitting tight for lack of news....I've already pared back sharply and have a good view from the fence on which I sit.

[JDH]

We are in a recession, and a bear market, so I agree, for the moment the fence (with cash in your pockets) is not a bad place to be.

[richmanch]

I agree. I'm coming around to looking at this in terms of TA. Website stocksta.com is great.

Also, this might be a good day to establish some short positions. proshares.com for etf's on that. I set up a couple of small positions. Still holding other stuff long, so I guess they're more of a hedge.

But I'm moving very carefully. When you encounter a bear, you're supposed to play dead.

[Croaker]

Plop, Plop, Fizz, Fizz. That is not Alka Seltzer.  That is the 75 point cut and Stimulas Package going into the gas tank. Then the economy and consumers not digesting it to well.

With the housing market news still coming on the construction and home value falling. France Bank lost 7 Billion (One man show there). Everyone is wondering what is next?

What we need is NO BAD NEWS for a while along with the rate cut Big Ben will give us (25 or 50?) and then maybe the U's will start moving up.