David Fuller's view If there are any lingering doubts as to whether nuclear energy is back in play, take a look at this latest jump in the price of uranium (monthly, weekly & daily). This week's gains have taken the price above June 2009 and November 2008 highs within this lengthy, rounding base formation.

The 2006-2007 bull run in uranium was mainly due to speculation, and therefore the dress rehearsal for what lies ahead. There will also be plenty of speculation in this upside resumption of what I believe will prove to be a secular trend. However, the big difference this time is that China is leading a stockpiling programme; many more nuclear reactors are scheduled to come on line from 2012 onwards; there are far fewer Cold War missiles to decommission and the cost of production is rising.

Uranium shares have anticipated this latest rise in the metal but are still low relative to their upside potential, confirmed by the large base formations. Therefore they are unlikely to experience more than temporary downside reactions and consolidations before resuming their recoveries. I regard pullbacks in this sector as buying opportunities.

Here are several of those with large bases mentioned by Fullermoney in recent months: Cameco, Denison Mines, Paladin Energy, Extract Resources and Uranium One. Search the Library under 'Uranium' for more, plus some funds and ETFs. Disclosure: I have investments in Cameco and Denison Mines, the latter purchased this year, and additional exposure to uranium through Rio Tinto, BHP Billiton and BlackRock World Mining Trust.