Sunday, March 11, 2007

Uranium Ideas

A couple uranium plays that I will be watching next week as well.

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BaysWater Uranium (TSX Venture: BAY) is being promoted by the U3O8 site. I think one or two newsletters are also promoting this uranium junior miner.

Volume is always the key with these junior stocks. Volume for Bayswater Uranium has been drying up in this most recent pullback, which is a good thing assuming the uptrend will continue. I will be looking for at least 700K shares on the next upsurge. There isn't a key, specific resistance level, but there seems to be an awful lot of price committment @ the 1.80-ish area.

PurePoint Uranium (TSX Venture: PTU) - there's an interesting write-up on PurePoint by MicroCap Mayhem.

PTU looks ready to continue its uptrend as well. However, like BAY, I would need to see some big volume return, and possibly a close above the downtrend line that I've drawn, around $1.80-ish area.

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