After the Close, 13 Nov 2007
After a day such as yesterday any little upside move is welcome. The Merv’s Daily Uranium Index closed the day up 0.007 points or 0.02%. There were 24 winners, 17 losers and 9 unchanged. Of the five largest stocks by market value, Cameco gained 0.4%, Denison lost 0.6%, Paladin gained 2.7%, UEX gained 1.9% and Uranium One lost 2.8%. All in all, some winners, some losers but basically a neutral kind of day. The best performer of the day was ESO Uranium with a gain of 10.5% while the worst performer was Uranium Energy with a loss of 6.5%.
With a basically neutral day the position of the ratings have not changed. With the Index still slightly above its positive intermediate term moving average line and the momentum just a hair below its neutral line I will remain with my – NEUTRAL rating for another day.
As for the short term, the Index continues below its negative short term moving average line and the momentum indicator remains below its neutral line. Shown is another momentum indicator, the Moving Average Convergence/Divergence (MACD) indicator. Using a daily chart I find this indicator with its predefined parameters to work as an in-between indicator, in-between short and intermediate term, when crossing its neutral line. However, a move below its trigger line is more of a short term signal. So what we have is all negative for the short term justifying continuing with the BEARISH rating.
After a day such as yesterday any little upside move is welcome. The Merv’s Daily Uranium Index closed the day up 0.007 points or 0.02%. There were 24 winners, 17 losers and 9 unchanged. Of the five largest stocks by market value, Cameco gained 0.4%, Denison lost 0.6%, Paladin gained 2.7%, UEX gained 1.9% and Uranium One lost 2.8%. All in all, some winners, some losers but basically a neutral kind of day. The best performer of the day was ESO Uranium with a gain of 10.5% while the worst performer was Uranium Energy with a loss of 6.5%.
With a basically neutral day the position of the ratings have not changed. With the Index still slightly above its positive intermediate term moving average line and the momentum just a hair below its neutral line I will remain with my – NEUTRAL rating for another day.
As for the short term, the Index continues below its negative short term moving average line and the momentum indicator remains below its neutral line. Shown is another momentum indicator, the Moving Average Convergence/Divergence (MACD) indicator. Using a daily chart I find this indicator with its predefined parameters to work as an in-between indicator, in-between short and intermediate term, when crossing its neutral line. However, a move below its trigger line is more of a short term signal. So what we have is all negative for the short term justifying continuing with the BEARISH rating.
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