CCO, Cameco update

cco jul 2012 scco oct 15 2012

Then (June) and now charts of Cameco. Still looking for $30 or so sometime in the future. We are probable in a-b-c correction, that is in the worst case, that has a very long and tedious a-b-c as a b, There is a distinct triangle in the b!. We are close to the old lows of $17.25 so if you were to buy this at say $18 with a stop at $17 you would risk a single dollar against a potential gain of $12 or so. That is a very respectable risk/reward ratio. Chose your own tolerances and methods but which ever way you slice it , this looks like a buy to us.

Do use a stop as lower levels are still possible, see longer term charts in previous blogs.