This is a pretty good summary of what CXX is all about...
Very detailed and from the good action off support at .185, suggests that buying low is still possible... I think the target of .50 cents will be easily breached; however, hindsight is always 100%.
From a gorilla trader’s perspective watching the Level II action and recent charting activity connected with the recent pipeline suggest that CXX is setting up for a longer move with dips and swings.
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Wednesday, August 19, 2009
Tuesday, August 18, 2009
CXX.TO
CXX appears to be making a move... slow but, still, is building some upward pressure on the latest news releases... I like the low price and the appointment of the new Chief Financial Officer and his incentive stock options at .19 cents... along with the preliminary Bootheel resource estimates... there is lots of room to surprise, and then, the CBM project in Labrador with it’s currently defined 4 resources zones is a nice plum in a potentially hot area.
There is talk of going into production in Wyoming ventured with UR-Energy. I quote..
"Bootheel, is located in uranium mining friendly Wyoming and with its in-situ mining potential, Bootheel is designed for near term production. The Project is ventured with Ur-Energy, who bring with them additional management expertise to put Bootheel into production. The CMB Uranium Project is located in Labrador, Canada and has four currently defined resources - C Zone, Area 1, Armstrong and Two Time Zone. These assets fall outside of Labrador Inuit Lands and are therefore not directly impacted by the Nunatsiavut Government's decision in March 2008 to place a three year moratorium on uranium mining within their self-governed Labrador Inuit Lands. The Crosshair team is comprised of knowledgeable and experienced professionals with both exploration and mining backgrounds".
Level II is showing nice calm movement with strong support at .185 and the price has been slow due to the doldrums, however I can see the bulls getting a little antsy
There is some sizable asks on the block, but sometimes you have to think of them as a gift and be thankful these particular traders are putting them there so you can take a low position. There are those traders who will be intimidated by these asks, and they are the gas that takes us to higher prices as they chase.
A buy under .22 cents should prove to be profitable at some point. This is a good candidate for 100% or better from these levels and a break over .30 cents could turn into an extended run to resistance at .85 cents.
Charting indications are very suggestive of a rising trend.
I have posted an updated chart in the favorites:
StockCharts Public Chart List
GLTA Lostoutwest
Kenuck SmallCap Trader
National Post
Grandich
StockCharts Public Chart List
CBCnews
Please read our Complete Disclosure
There is talk of going into production in Wyoming ventured with UR-Energy. I quote..
"Bootheel, is located in uranium mining friendly Wyoming and with its in-situ mining potential, Bootheel is designed for near term production. The Project is ventured with Ur-Energy, who bring with them additional management expertise to put Bootheel into production. The CMB Uranium Project is located in Labrador, Canada and has four currently defined resources - C Zone, Area 1, Armstrong and Two Time Zone. These assets fall outside of Labrador Inuit Lands and are therefore not directly impacted by the Nunatsiavut Government's decision in March 2008 to place a three year moratorium on uranium mining within their self-governed Labrador Inuit Lands. The Crosshair team is comprised of knowledgeable and experienced professionals with both exploration and mining backgrounds".
Level II is showing nice calm movement with strong support at .185 and the price has been slow due to the doldrums, however I can see the bulls getting a little antsy
There is some sizable asks on the block, but sometimes you have to think of them as a gift and be thankful these particular traders are putting them there so you can take a low position. There are those traders who will be intimidated by these asks, and they are the gas that takes us to higher prices as they chase.
A buy under .22 cents should prove to be profitable at some point. This is a good candidate for 100% or better from these levels and a break over .30 cents could turn into an extended run to resistance at .85 cents.
Charting indications are very suggestive of a rising trend.
I have posted an updated chart in the favorites:
StockCharts Public Chart List
GLTA Lostoutwest
Kenuck SmallCap Trader
National Post
Grandich
StockCharts Public Chart List
CBCnews
Please read our Complete Disclosure
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