Merv’s Daily Commentary, 03 March 2008
It looks like we’re back to nibble, nibble on the down side again. What can one do but go with the flow. The flow is not yet turned to the down side but has stopped to the up side. Which, oh which way will it flow?
The Merv’s Daily Uranium Index closed the day barely on the down side. It was down 0.019 points or 0.54%. There were 17 daily winners, 28 daily losers and 5 unchanged. Cameco gained 0.7%, Denison gained 2.1%, First Uranium was unchanged, Paladin gained 1.5% and Uranium One lost 3.1%. Once again Hathor Exploration was the big winner of the day with a gain of 49.2%. This is on top of its last week’s 174% gain. The loser of the day was Western Prospector with a loss of 13.7%.
The intermediate term is once more drifting gently back into the bearish camp. The Index remains below its negative sloping moving average line and the momentum indicator continues in its negative zone, although just above its trigger line. The volume indicator is above its intermediate term positive trigger line but as mentioned in the past, it is still somewhat misleading at this time. Unfortunately, I must go back to my BEARISH intermediate term rating until the Index action confirms something better.
As for the short term, things are starting to get a little dicey. The Index is still above its positive sloping moving average line but the line is once more turning towards the horizontal in preparation for a possible down turn. The momentum indicator is heading towards its neutral line and is already below its negative sloping trigger line but remains in the positive zone for now. The more aggressive Stochastic Oscillator had been tracing a somewhat lateral path for some time, undecided which way to go, has decided today for the down side. It has taken a sharp turn downward but is still just above its neutral line. I must still rate the short term as BULLISH but things are getting close for a possible down grade.
It looks like we’re back to nibble, nibble on the down side again. What can one do but go with the flow. The flow is not yet turned to the down side but has stopped to the up side. Which, oh which way will it flow?
The Merv’s Daily Uranium Index closed the day barely on the down side. It was down 0.019 points or 0.54%. There were 17 daily winners, 28 daily losers and 5 unchanged. Cameco gained 0.7%, Denison gained 2.1%, First Uranium was unchanged, Paladin gained 1.5% and Uranium One lost 3.1%. Once again Hathor Exploration was the big winner of the day with a gain of 49.2%. This is on top of its last week’s 174% gain. The loser of the day was Western Prospector with a loss of 13.7%.
The intermediate term is once more drifting gently back into the bearish camp. The Index remains below its negative sloping moving average line and the momentum indicator continues in its negative zone, although just above its trigger line. The volume indicator is above its intermediate term positive trigger line but as mentioned in the past, it is still somewhat misleading at this time. Unfortunately, I must go back to my BEARISH intermediate term rating until the Index action confirms something better.
As for the short term, things are starting to get a little dicey. The Index is still above its positive sloping moving average line but the line is once more turning towards the horizontal in preparation for a possible down turn. The momentum indicator is heading towards its neutral line and is already below its negative sloping trigger line but remains in the positive zone for now. The more aggressive Stochastic Oscillator had been tracing a somewhat lateral path for some time, undecided which way to go, has decided today for the down side. It has taken a sharp turn downward but is still just above its neutral line. I must still rate the short term as BULLISH but things are getting close for a possible down grade.
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