After The Close, 26 March 2008
We’re still not out of the woods yet. It was looking good there for a couple of days but today, although positive, was not a great day. On the chart you can see the difference in the slope of the channels, a week and a half ago and now. Today’s action was still in the channel but hugging the lower trend line. Tomorrow is therefore a very important day. The Index must move up away from the lower channel line or else it will break below and ruin all the dreams of the past couple of days. Stay tuned.
It was a neutral kind of day with the Merv's Daily Uranium Index closing up by only 0.008 points or 0.28%. There were 22 winners, 24 losers and 4 going nowhere. As for the five largest stocks, they were mixed but none of any significance. Cameco lost o.1%, Denison gained 0.1%, First Uranium gained 2.0%, Paladin gained 0.8% and Uranium One lost 3.2%. The best daily performer was Hathor Exploration with a gain of 16.0%. They must have struck uranium yesterday as the price at the opening today was up 29%. It climbed a little higher and then it was down, down for the rest of the day. It looked like one of those typical, news--masses jumping in--professionals getting out, kind of days. We’ll see what tomorrow brings. The worst performer on the day was Yellowcake Mining with a loss of 10.7%.
As you can expect, nothing from the intermediate term changed with this mild daily action. Shown today is the MACD indicator. I’m never quite sure if I should use this as a short term or intermediate term indicator. Maybe that is one reason I don’t really use it but it is the most popular momentum indicator so I show it from time to time. There is still a wide breach between the Index and its negative sloping moving average line. As for the momentum indicator (the 50 day RSI, not shown today) the indicator and its trigger line are just about to cross. All that would do would be to confirm that the momentum (strength) of the price action is getting stronger. It would then still have to breach its neutral line to confirm a positive strength. For now the intermediate term rating remains BEARISH.
On the short term we see the Index and its negative sloping moving average line closing rapidly and could cross any day, depending upon the severity of the daily Index action. As for the momentum indicator, it is still above its oversold line and above its now positive sloping moving average line. The volume indicator has just crossed its short term trigger line but the slope of the trigger is still negative. The more aggressive Stochastic Oscillator continues to move higher above its positive trigger line and is just about to enter its positive zone. For today the short term rating still remains BEARISH. Another up day and the rating should start to move towards the bullish.
We’re still not out of the woods yet. It was looking good there for a couple of days but today, although positive, was not a great day. On the chart you can see the difference in the slope of the channels, a week and a half ago and now. Today’s action was still in the channel but hugging the lower trend line. Tomorrow is therefore a very important day. The Index must move up away from the lower channel line or else it will break below and ruin all the dreams of the past couple of days. Stay tuned.
It was a neutral kind of day with the Merv's Daily Uranium Index closing up by only 0.008 points or 0.28%. There were 22 winners, 24 losers and 4 going nowhere. As for the five largest stocks, they were mixed but none of any significance. Cameco lost o.1%, Denison gained 0.1%, First Uranium gained 2.0%, Paladin gained 0.8% and Uranium One lost 3.2%. The best daily performer was Hathor Exploration with a gain of 16.0%. They must have struck uranium yesterday as the price at the opening today was up 29%. It climbed a little higher and then it was down, down for the rest of the day. It looked like one of those typical, news--masses jumping in--professionals getting out, kind of days. We’ll see what tomorrow brings. The worst performer on the day was Yellowcake Mining with a loss of 10.7%.
As you can expect, nothing from the intermediate term changed with this mild daily action. Shown today is the MACD indicator. I’m never quite sure if I should use this as a short term or intermediate term indicator. Maybe that is one reason I don’t really use it but it is the most popular momentum indicator so I show it from time to time. There is still a wide breach between the Index and its negative sloping moving average line. As for the momentum indicator (the 50 day RSI, not shown today) the indicator and its trigger line are just about to cross. All that would do would be to confirm that the momentum (strength) of the price action is getting stronger. It would then still have to breach its neutral line to confirm a positive strength. For now the intermediate term rating remains BEARISH.
On the short term we see the Index and its negative sloping moving average line closing rapidly and could cross any day, depending upon the severity of the daily Index action. As for the momentum indicator, it is still above its oversold line and above its now positive sloping moving average line. The volume indicator has just crossed its short term trigger line but the slope of the trigger is still negative. The more aggressive Stochastic Oscillator continues to move higher above its positive trigger line and is just about to enter its positive zone. For today the short term rating still remains BEARISH. Another up day and the rating should start to move towards the bullish.
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