Bought Strathmore for the first time since 2004. Action seemed indeterminate this morning, so I bought 10K with a limit order that cleared the pipe. Only about 27K shares traded before I placed my order but over 400K traded by the end of the day.Strathmore is a top-tier uranium junior with advanced projects that are in the permitting stage. Their property portfolio includes properties in New Mexico and the Athabasca Basin in Saskatchewan, Canada. They have excellent management with deep industry experience and plenty of cash in the bank.
The fundamentals continue to improve while the related stocks have taken haircuts of 40-60%. Now that the market appears to be turning, the technicals, seasonals (for resource stocks) and fundamentals are all nicely aligned. MACD looks excellent, as does RSI.
Note that every major rally has been characterized by a close over the 50. Next week will need to see follow-through, but the set up for the first week of September is about as good as it gets.
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