Monday, July 7, 2008
Chart Study - UXG
I recall someone pumping this thing at 7-10 bucks and now it's at 2 a couple years later, in a falling wedge down to support on the weekly chart. If it strikes one's fancy it certainly carries a much better risk/reward profile than in early 2006, eh? I never cared for this stock because I felt it was a hype play on the former Goldcorp CEO rounding up Nevada properties. But boy that hype has been bled off in a most painful manner. I don't own it and don't plan to but I thought the chart was interesting.