Wednesday, March 16, 2011

Adding to Cameco Position

Roughly a year ago, I purchased shares of Cameco (CCJ), one of the largest nuclear energy companies around, in two batches at around $27 and $28. Shares appreciated nicely up until last week when Japan suffered a major earthquake. Not surprisingly, nuclear energy stocks across the board have been pummeled following the nuclear reactor problems and concerns that resulted from the quake.

I remain convinced that nuclear energy won't be going away any time soon, and I do believe that once the panic subsides, shares should return to favor.

True to my nature, I'm putting money where my mouth is, and I've added substantially to my current CCJ position. I've a little more than doubled the position with new shares purchased at the $30 level.

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