Monday, April 18, 2011

URG (URG) (FLR) (UUU) (NLR) (NUCL) Close Mixed as Nuclear Rebounds

Shares of uranium and nuclear companies like Fluor (FLR), Ur Energy (URG), Uranium One (TSE:UUU), Market Vectors Nuclear Energy E (NYSEArca:NLR) and iShares S&P Global Nuclear Energy Index (Nasdaq:NUCL) are trading mixed after the initial shock of the nuclear challenges in Japan from the earthquake are gradually winding down.

The headline nonsense that somehow the nuclear sector was going to be cut and replaced by other so-called "green" energy is ludicrous, as solar and wind turbines are a poor and unpredictable source of energy, and will never be able to supply, or come close to supplying the growing energy needs of the world.

While it's obvious the industry will go over safety measures to ensure the highest safety levels possible, to use a rare occurrence like an 8.9 earthquake as the worst case scenario isn't going to happen, even though the industry will be safer and better for making any improvements they can.

Smaller uranium companies like Crosshair Expl & Mining (AMEX:CXZ) and Uranerz Energy (AMEX:URZ) closed down, while the larger companies closed up.

Market Vectors Nuclear Energy E closed Friday at $22.68, gaining $0.03, or 0.13 percent. iShares S&P Global Nuclear Energy Index closed at $40.63, falling $0.24, or 0.59 percent. Ur Energy closed at $1.65, down $0.01, or 0.60 percent. Uranium One closed at $3.89, down $0.04, or 1.02 percent. Fluor ended the session at $68.73, gaining $1.91, or 2.86 percent.

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