What asset class has been in the dumps for eleven years?

It is an important global sector keeping modern life humming along.

The asset has fallen for so long and so much that the risk to buy it is low.

Investors are losing interest which is a sign that the bear market could be ending leading to the start of a great bull market.

Any guesses?

The asset is uranium. Take a look at two recent developments that could boost the price.

Nuclear power plants generate about 11% of the world's electricity and about 20% of the electricity in the United States. It is the cheapest and most environmentally friendly resource to generate base electricity and therefore one of the world's most important assets.

The Uranium bear market accelerated in March 2011, when an earthquake and tsunami caused a meltdown at the Fukushima Daiichi nuclear plant in Japan.

While the disaster forced many countries to stop using nuclear power, other countries where forced to slow construction of new nuclear facilities dramatically. Nobody wanted to own the commodity. However, electricity demand is not going away.

The easist way to take advantage of Uranium is buying an ETF.

I suggest using the Global X Uranium Fund (URA).

URA holds a basket of more than 40 uranium producers and explorers with operations around the world. Buying commodity stocks is a leveraged way to participate in the coming Uranium rally and could lead to 100% plus gains.

Bullish developments.

Canadian uranium producer Cameco (CCJ) had shut down production at two of its large facilities. And Kazakhstan – the world's leading uranium producer – announced its plans to cut production by 20% for the next three years. This will reduce global uranium production by about 7.5%.

These were strong signs that the pain was too much for uranium producers. It indicated that they were finally taking steps to increase prices.

URA has traded in a large range after bottoming near $12.

Now with URA testing the lows and bouncing, it is a perfect time to speculate on the Uranium rally continuing. Please use a stop loss at $10.75 in case this bear market gets even worse.

This trade has required patience and may continue to require patience… But the upside is dramatically larger than the downside risk. Uranium and uranium stocks are starting to climb. This could be the beginning of a massive bull market.

Disclosure: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.