A PICTURE OF THE URANIUM BREAKOUT

This week, looking at the list of stocks hitting new yearly highs is looking at a new mining stock boom.

As we frequently mention, the Canadian Venture Index is quietly working its way higher. This is proof tiny mining companies are in an uptrend. Now consider this week's entrants to the new highs list. It's a "who's who" of digging stuff out of the ground.

Some notable names here: BHP Billiton – world's largest mining company. Peabody Energy – world's largest public coal company. Freeport-McMoRan – world's largest public copper company. Vale – world's largest iron ore company. And don't forget the big name in "nuke," Cameco (CCJ).

CCJ is the world's largest pure uranium stock. This is the stuff that powers nuclear reactors and mushroom clouds. Early this decade, uranium soared in price. This drove a big bull market in CCJ and its sector. Then, like all miners, CCJ was clobbered in 2008.

Many uranium watchers expect the commodity to go higher in the coming years. Judging by the new high in the "bell cow of uranium," that rise is getting started.