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Saturday, April 07, 2007

Stop and Think

For anyone wondering about CEDA, I've gone through the 10-K already. I sold one fourth of my holdings just to reduce my exposure. I hope to post the notes soon. I'm not happy with the increased expenses in the full year results and especially the company's explanation of them. This may turn out to be a "hot stove moment". You might intellectually know about hot stoves, but until you put your hand on one, you don't know it at a gut level*.

The whole uranium thing I've been covering is big. I've never seen a supply/demand situation this perfect before. In fact, it's hard to imagine it being better while still being realistic. For Strathmore Minerals, the only thing better would be for the spot price to have remained low instead of going up so insanely high so soon. Right now, there's a lot of money and effort being thrown at uranium. Australia is likely to allow a 4th and 5th and 6th uranium mine to open. But there's a lack of mining engineers, mining equipment, not to mention the extremely long pipeline of getting to production. The stock prices of the various uranium stocks have been muted I think because no one wants to be the chump who buys at a high point only to see the stock drop back down as the hype subsides. It all has to play out in that strange and unpredictable way of the market.

I knew I was on the wrong side of the trade when I sold my last CXTI and the market has proved me right. But I needed the money for a private investment. I just wish I'd sold CEDA instead, but there was no way of seeing that beforehand, so I don't count it as an error. It doesn't matter: CXTI was glorious.

I had planned to go through a portion of the Pink Sheets stocks again, but that effort has been slow. I finished the letter W and most of the letter C. The child laborers have [NOT] gotten lazy and so have I, unfortunately. [UPDATE April 28: The sole remaining child laborer is most definitely not lazy, but rather busy with other work. In fact, he has been sending me results that I haven't yet gone through. I stand corrected.]

Definitely looking forward to the CFRI conference call. CFRI received my questions and I hope they cover at least some of them during the call.

Jones Soda (JSDA) just keeps going up. Not buying it wasn't a mistake in my book. How should I know whether the stuff will continue selling or not. I had looked at it as far back as when it was $5.32. D'oh!

* it's in the reading list.

Good blog...keep it coming.
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