I sold my DNN too over a year ago as I shared your assessment. The industry recovery seemed, and seems to take significantly longer than most forecasts would see. DNN would be nice to hold when/if things would heat up. Until then, I feel okay about holding an average allocation in Cameco, given their income and small div. The tax issue is non-fundamental and will phase out over the years. Fundamentally things are pretty clear: nuclear is the abundant, cleanest, and most effective type of energy. The politicians though will be a major obstacle along the way, caring foremost for their own careers. I wouldn't sleep well at night with a larger than average position, however, due to the ever-risk of some accident somewhere, but I would certainly hold 5-9% in it. I wish there was another quality candidate out there, Areva doesn't cut it.
They actually can. Sure, barring a serious monetary event, nothing will move silver before significant inflation occurring. But they are a major player and these guys have the firepower and predatory practices to sway small markets such as silver's or larger, in the intermediate term. Don't overestimate the intelligence of the global investors. They're with the herd. For the most part, JPMs and GSs are calling the shots. GS also has everyone on hold on commodities as they said this whole asset class shouldn't start recovering before the end of 2015. Now that's an arrogant call.
My opinion? The boyz still want to take the spot down to $14 in the near term. I don't think anyone can foresee how long the bottoming will take, months or years.
It's widely known that they've accumulated a massive stack of physical, rumors say 3 times as much as the Hunt brothers and Buffet combined once used to have. They've done so on the cheap while suppressing the futures with massive shorting. They call that hedging, if anyone at the SEC dares to ask. We can only wait for them to allow the price to recover, whenever they'll see it fit with significant inflation, at which point they'll start to slowly unload their physical to the masses. For these guys money really does grow on trees.