After the Close, 20 Nov 2007
I guess we should give thanks for small mercies. That’s one up day in a row, maybe we can go for two. The Merv’s Daily Uranium Index closed higher by 0.051 points or 1.18%. In uranium terms that’s not so hot. Of the 50 component stocks we had 20 that closed higher, 24 that closed lower and 6 that were unchanged. Of the five largest stocks by market value, Cameco gained 2.2%, Denison gained 0.1%, Paladin lost 0.3%, UEX gained 1.8% and Uranium One gained 1.0%. Quaterra was the best daily performer with a gain of 19.7% while Titan Uranium was the worst with a loss of 9.3%.
One day does not a trend reversal make, not even in the short term. However, it is a start. A look at the candlestick action suggests a very neutral day with the closing price closing almost where it started the day, despite a wide daily high and low. However, the action was still below a negatively sloping short term moving average line. The short term momentum indicator (shown) has turned on the daily action but is still well inside its negative zone and the turn is not yet convincing. The more aggressive Stochastic Oscillator is also in the process of turning but remains inside its oversold zone and still below its trigger line. So, the rating for the short term must still remain BEARISH for at least another day.
On the intermediate term this one day action made almost no impression. However, by a quirk as to how the moving average is calculated the moving average has once more inched into the upward position from a horizontal one yesterday. However this upward slope is very fragile and needs more upside price action to hold. For this reason I am maintaining my previous BEARISH rating for the intermediate term.
This is still not the time for most investors to be getting back into the market. It’s just too risky at this point. Gambling is okay when you understand the risks and protect yourself with an appropriate stop loss.
I guess we should give thanks for small mercies. That’s one up day in a row, maybe we can go for two. The Merv’s Daily Uranium Index closed higher by 0.051 points or 1.18%. In uranium terms that’s not so hot. Of the 50 component stocks we had 20 that closed higher, 24 that closed lower and 6 that were unchanged. Of the five largest stocks by market value, Cameco gained 2.2%, Denison gained 0.1%, Paladin lost 0.3%, UEX gained 1.8% and Uranium One gained 1.0%. Quaterra was the best daily performer with a gain of 19.7% while Titan Uranium was the worst with a loss of 9.3%.
One day does not a trend reversal make, not even in the short term. However, it is a start. A look at the candlestick action suggests a very neutral day with the closing price closing almost where it started the day, despite a wide daily high and low. However, the action was still below a negatively sloping short term moving average line. The short term momentum indicator (shown) has turned on the daily action but is still well inside its negative zone and the turn is not yet convincing. The more aggressive Stochastic Oscillator is also in the process of turning but remains inside its oversold zone and still below its trigger line. So, the rating for the short term must still remain BEARISH for at least another day.
On the intermediate term this one day action made almost no impression. However, by a quirk as to how the moving average is calculated the moving average has once more inched into the upward position from a horizontal one yesterday. However this upward slope is very fragile and needs more upside price action to hold. For this reason I am maintaining my previous BEARISH rating for the intermediate term.
This is still not the time for most investors to be getting back into the market. It’s just too risky at this point. Gambling is okay when you understand the risks and protect yourself with an appropriate stop loss.
2 comments:
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"friend" from Crescenet,
I do not have the time for translations, therefore your comments remain unreadable to me.
As for adding your site to the blogroll, once you have an English site I can then review the site and consider the request.
Regards,
Merv
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