Wednesday, December 06, 2006

Mega Uranium Technicals

I traded Mega Uranium over a month ago, and it was based purely on the technicals. Since then, this uranium stock has basically gone sideways - the momentum is gone, dried up from this stock.

This past monday, someone with big blocks of shares (hedge funds? Institutions?) decided to exit their position in MGA. That has left the stock in a precarious position.

I currently do not own MGA, and would not be interested in any position until I see some sort of trend develop.

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