CCO update.

cco may 20 2011

Cameco would ideally have another small leg down but the possibility definitely exists that the drop is done. A very shallow diagonal may have formed and the triangle shown earlier may not exist. Unfortunately I cannot get the necessary detail on these charts.

cco may 21 2011

My guess would be that we are already on the way up if we break $27.25 in which case the big fat line referred to earlier turned the tide.