Northwestern Mineral Ventures: Price Paused Barring Positive News

Jul. 3.07 | About: Northwestern Mineral (NWTMF)

Yesterday morning I decided to take my profits and close my holding of Northwestern Mineral Ventures (OTC:NWTMF) at $1.01. The stock has cooled off recently after posting very nice gains last month, and it looks to me as if the stock will be taking a pause for a while (barring more positive news). While I continue to like the prospects for Northwestern’s Niger uranium properties, I am looking to free up some capital to enter other trades at the moment.

All in all, my NWTMF position was opened at a basis of $0.76 and closed at a basis of $1.03, representing a nice gain in a short amount of time. I would certainly be interested in reentering the position at a lower price in the future, but for now, it’s nice to lock in a solid profit.

NWTMF 1-yr chart