Uranium Stocks - Oversold? Maybe. Undervalued? Not Even Close.

Frankly, I'm getting tired of hearing people come onto CNBC and talk about how the uranium sector is oversold and is a screaming buy here. Sure, the sector may be "oversold" by traditional terms. But just like a stock can keep rising while it is overbought NFLX there's no reason a stock has to bounce just because it is oversold. Especially when it has the burden of a near nuclear meltdown hanging over it. I think what the bulls are forgetting is that the massive rise we saw in both uranium and uranium miners was based not only on existing and approved projects, but also on the prospects of a "nuclear revival" worldwide that would see a spike in new nuke applications and subsequent approvals. The last I heard Canada, Germany and even China have put a hold on all new nuclear applications until further safety studies can be completed. Uranium prices were $40/lb just last summer and Cameco (CCJ) was trading in the low-$20's at the same time. Exactly how is the nuclear industry 50% BETTER OFF than it was last summer? From a technical perspective, what we witnessed in CCJ over the past 3 trading days is nothing more than...... Read the full analysis here.