After The Close, 19 March 2008
Ho hum, another day another bummer. The Merv’s Daily Uranium Index closed lower again, by 0.188 points or 6.25%. The real stickler were the winners and losers category. There were only 3 winners and 46 losers with 1 unchanged. As for the largest five stocks, Cameco lost 5.9%, Denison lost 6.9%, First Uranium lost 0.1%, Paladin lost 4.7% and Uranium One lost 4.4%. The best performer of the three winners was East Asia Minerals with a gain of 5.1% while the worst performer was Laramide with a loss of 19.2%.
Since nothing much has changed, today’s analysis will be swift and simple. That will leave me a little more time to do the Wednesday Daily Table (the first to be posted later this evening.
For the intermediate term, -- this is a recording – the Index closed below its negative sloping moving average line and the momentum indicator continues lower, below its negative sloping trigger line. One more day of negative action and the momentum indicator will drop into new lows canceling hopes of a positive divergence. However, for now the rating remains BEARISH.
On the short term, much the same. The Index continues below its negative sloping moving average line and the momentum indicator continues to move lower inside its negative zone below its negative sloping trigger line. The indicator has now entered its oversold zone which gives us some hope that a rest is in order. The Stochastic Oscillator has also entered its oversold zone so we’ll just have to wait and see how this develops. A reversal may not come immediately, however what this does suggest is that anyone contemplating selling short is going against the odds at this point. The short term remains BEARISH.
Ho hum, another day another bummer. The Merv’s Daily Uranium Index closed lower again, by 0.188 points or 6.25%. The real stickler were the winners and losers category. There were only 3 winners and 46 losers with 1 unchanged. As for the largest five stocks, Cameco lost 5.9%, Denison lost 6.9%, First Uranium lost 0.1%, Paladin lost 4.7% and Uranium One lost 4.4%. The best performer of the three winners was East Asia Minerals with a gain of 5.1% while the worst performer was Laramide with a loss of 19.2%.
Since nothing much has changed, today’s analysis will be swift and simple. That will leave me a little more time to do the Wednesday Daily Table (the first to be posted later this evening.
For the intermediate term, -- this is a recording – the Index closed below its negative sloping moving average line and the momentum indicator continues lower, below its negative sloping trigger line. One more day of negative action and the momentum indicator will drop into new lows canceling hopes of a positive divergence. However, for now the rating remains BEARISH.
On the short term, much the same. The Index continues below its negative sloping moving average line and the momentum indicator continues to move lower inside its negative zone below its negative sloping trigger line. The indicator has now entered its oversold zone which gives us some hope that a rest is in order. The Stochastic Oscillator has also entered its oversold zone so we’ll just have to wait and see how this develops. A reversal may not come immediately, however what this does suggest is that anyone contemplating selling short is going against the odds at this point. The short term remains BEARISH.
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