Option Investor
New Plays
Printer friendly version
New Plays
Long Plays
Short Plays
CCJ None

New Long Plays

Cameco - CCJ - close: 44.14 chg: +2.27 stop: 41.47

Company Description:
Cameco, with its head office in Saskatoon, Saskatchewan, is the world's largest uranium producer. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. (source: company press release or website)

Why We Like It:
Investors are probably looking for alternative forms of energy now that crude oil is soaring past $60.00 a barrel. One possibility is nuclear power. Granted there hasn't been a nuclear power plant built in this country for years and if one were approved today it would take years to construct. Yet that doesn't seem to be stopping bulls from giving CCJ another look. The company is the larger uranium producer in the world and would certainly benefit as nuclear power became more of a reality. We noticed the bounce today was fueled by volume well above its average volume. We are willing to go long at current levels and target a move into the $49.50-50.00 range. Currently the Point & Figure chart points to a $59.00 target. More conservative traders may want to wait until after CCJ trades above the $45.00 level or its recent high at $45.35 before opening new positions. We do not plan on holding over CCJ's late July earnings report.

Picked on June 27 at $44.14
Change since picked: + 0.00
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 989 thousand

New Short Plays

None today.

Premier Investor New Play Archives