After the Close, 28 Feb 2008
Someone up there must be listening. Finally a good day, not the best but good enough, however, one is never fully satisfied. The Merv’s Daily Uranium Index closed the day up 0.117 points or 3.29%. There were 36 winners and 11 losers with 3 unchanged. This was the best day in a long time. Let’s savor it while we can. As for the largest five stocks Cameco gained 4.3%, Denison gained 7.0%, First Uranium closed unchanged, Paladin gained 6.0% and Uranium One gained 1.1%. There were 8 double digit winners today, the best was NWT Uranium with a gain of 22.6% while the worst of the bunch was USEC with a loss of 8.8%.
Well, we are now starting to get some movement in the intermediate term rating. With the Index closing above the intermediate term moving average line we’re getting somewhere. However, the line is still in a negative slope so the breach is not yet complete. The momentum indicator is once more on the move higher towards its neutral line but is still below the line. It continues above its positive sloping trigger line as it has been for weeks now. Although the volume indicator has not fully compensated for that erroneous reading mentioned here a few days back it is in a solid upward trend and almost in new high territory. Lastly, the Index has closed above its third FAN trend line which is a confirmation of a reversal of trend by my criteria for the FAN PRINCIPLE. With the moving average still pointing lower and the momentum indicator still in its negative zone I can’t go fully bullish yet but the intermediate term rating is being upgraded to a + NEUTRAL rating, just one level below a full bullish rating.
Every thing continues positive on the short term. The Index continues to move higher above a positive moving average line and the momentum indicator continues higher in its positive zone, above its positive trigger line. About the only negative, and it’s a minor one, is that the action remains in an upward sloping channel. A day or two like today and the Index should breach its upper resistance trend line, which would be an even more positive sign. The short term rating remains BULLISH.
Speculators may start acting a little more confident in their purchases although the Index has not yet gone fully bullish, maybe tomorrow. However, be sure to have your exit strategy working. Most money is not lost because the stock acted as speculators thought but acted as speculators did not expect and they did not act with an exit in place.
Before you invest, Always check your market timing with a
Qualified Professional Market Technician
Someone up there must be listening. Finally a good day, not the best but good enough, however, one is never fully satisfied. The Merv’s Daily Uranium Index closed the day up 0.117 points or 3.29%. There were 36 winners and 11 losers with 3 unchanged. This was the best day in a long time. Let’s savor it while we can. As for the largest five stocks Cameco gained 4.3%, Denison gained 7.0%, First Uranium closed unchanged, Paladin gained 6.0% and Uranium One gained 1.1%. There were 8 double digit winners today, the best was NWT Uranium with a gain of 22.6% while the worst of the bunch was USEC with a loss of 8.8%.
Well, we are now starting to get some movement in the intermediate term rating. With the Index closing above the intermediate term moving average line we’re getting somewhere. However, the line is still in a negative slope so the breach is not yet complete. The momentum indicator is once more on the move higher towards its neutral line but is still below the line. It continues above its positive sloping trigger line as it has been for weeks now. Although the volume indicator has not fully compensated for that erroneous reading mentioned here a few days back it is in a solid upward trend and almost in new high territory. Lastly, the Index has closed above its third FAN trend line which is a confirmation of a reversal of trend by my criteria for the FAN PRINCIPLE. With the moving average still pointing lower and the momentum indicator still in its negative zone I can’t go fully bullish yet but the intermediate term rating is being upgraded to a + NEUTRAL rating, just one level below a full bullish rating.
Every thing continues positive on the short term. The Index continues to move higher above a positive moving average line and the momentum indicator continues higher in its positive zone, above its positive trigger line. About the only negative, and it’s a minor one, is that the action remains in an upward sloping channel. A day or two like today and the Index should breach its upper resistance trend line, which would be an even more positive sign. The short term rating remains BULLISH.
Speculators may start acting a little more confident in their purchases although the Index has not yet gone fully bullish, maybe tomorrow. However, be sure to have your exit strategy working. Most money is not lost because the stock acted as speculators thought but acted as speculators did not expect and they did not act with an exit in place.
Before you invest, Always check your market timing with a
Qualified Professional Market Technician
1 comment:
Merv
All i gotta say is SWEET!
Great site.
FW
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