Uranium Spot price down to 68.50 US on Friday 18th.
February 18, 2011–TradeTech’s Uranium Spot Price Indicator is down $4.25 to $68.50 per pound U3O8. The entry of a non-traditional seller into the market looking to place over 800 thousand pounds U3O8 triggered the price slide. Sellers reacted to the news by immediately dropping offer prices and buyers quickly retreated from the market upon learning of the entity’s desire to sell. A lack of clarity and speculation about the true motivation for the sale provided momentum to the price decline. A few buyers ventured into the market as offer prices fell, and a total of seven transactions were concluded. Buyers included utilities, traders, and financial entities. As the week came to a close, new demand emerged with a non-US producer entering the market seeking offers for 300 thousand pounds U3O8.
The Question is: Was this priced in om Friday closing time? Is it time to get out or hold on? What do you guys think?