Bought USU

I bought USEC Inc. (USU) at $5.14. USU is a leading supplier of enriched uranium fuel for commercial nuclear power plants. USEC operates the only uranium enrichment facility in the United States and supplies more than half of the U.S. market and more than a quarter of the world market. 2007 revenues were more than $1.9 billion. Jefferies and GS are bullish given recent developments with DOE. USEC's European rival Urenco recently reported strong results, which is also bullish. USU has a PEG of 2.47, which is expensive. I like the company's moat (only US enricher) and cash to debt ratio ($886m v. $725m). There is also a 26.5% short interest, which is no surprise, as on Feb. 25, USU divulged that plans to build a second uranium enrichment facility could run some 50% over budget due to labor and commodity price pressure. Normally I wouldn't buy right below 50 EMA, but ...