James Dines on Uranium

Source:

At the San Francisco Hard Assets Conference, James Dines, editor of the Dine’s Letter, told listeners that “nothing has changed in uranium.” As opposed to Global Resource Investments’ Rick Rule, who told the conference yesterday of his intention to move clients out of uranium stocks, Dines said that “we have not yet hit the top of the cycle ... stocks will continue higher.”

The uranium market’s screaming uptrend was challenged this year after spot prices plummeted from $138/lb to $75/lb in just four months from June to October. Prices have since recovered to $92/lb, but stocks have yet to rebound. Investors want to know whether sentiment has changed.

At the San Francisco Hard Assets Conference, James Dines, editor of the Dine’s Letter, told listeners that “nothing has changed in uranium.” As opposed to Global Resource Investments’ Rick Rule, who told the conference yesterday of his intention to move clients out of uranium stocks, Dines said that “we have not yet hit the top of the cycle ... stocks will continue higher.”

Dines said he likes to hold stocks in the intermediate term, because short-term trading will “drive you crazy” and long-term trading is like “life insurance.”

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