After The Close, 27 March 2008
Am getting a little discouraged but not totally yet. Although it was another down day for the uranium stocks there didn’t seem to be much enthusiasm for the down side. It was all nibble, nibble with only minor declines (for uranium stocks). There were none that were in the double digit variety but none on the up side either. Looking over several other Uranium Indices there seems to be no meeting of the minds. Some are confirming the actions of my Index while a few are still moving to the up side (although only slightly). We’re left waiting to see what the next day will bring.
The Merv’s Daily Uranium Index closed lower by 0.034 points or 1.19%. There were 11 winners, 31 losers and 8 that did not move. All of the top five, by market value, stocks closed lower. Cameco lost 2.8%, Denison lost 3.3%, First Uranium lost 2.0%, Paladin lost 1.2% and Uranium One lost 2.8%. The best performer on the day was Altius Minerals with a gain of 8.8% while Western Uranium was the worst performer with a loss of 7.7%.
We’re still well established in the negative side for the intermediate term. The Index remains below its negative moving average line and the momentum remains in the negative zone, still below its negative trigger line. The indicator and the trigger line are almost as one but the momentum is just a hair below the trigger. Any positive Index day and the indicator will cross the trigger to the up side confirming a new direction of the indicator. Until such time, the direction of the momentum indicator remains negative from an intermediate term perspective. For now the intermediate term rating remains BEARISH.
I’m still waiting for the indicators to change so that I can start upgrading my short term rating but to no avail. The Index is still below its negative short term moving average line with a momentum that remains in its negative zone but above its positive trigger line. The momentum indicator remains negative but the direction of the indicator has been confirmed to be upward from the short term perspective. From the more aggressive side the Stochastic Oscillator has now moved into its positive zone and pointing higher. The momentum indicators here are a breadth of fresh air suggesting underlying strength in the recent Index move but it still has not moved the rating. The short term rating remains BEARISH for another day.
Am getting a little discouraged but not totally yet. Although it was another down day for the uranium stocks there didn’t seem to be much enthusiasm for the down side. It was all nibble, nibble with only minor declines (for uranium stocks). There were none that were in the double digit variety but none on the up side either. Looking over several other Uranium Indices there seems to be no meeting of the minds. Some are confirming the actions of my Index while a few are still moving to the up side (although only slightly). We’re left waiting to see what the next day will bring.
The Merv’s Daily Uranium Index closed lower by 0.034 points or 1.19%. There were 11 winners, 31 losers and 8 that did not move. All of the top five, by market value, stocks closed lower. Cameco lost 2.8%, Denison lost 3.3%, First Uranium lost 2.0%, Paladin lost 1.2% and Uranium One lost 2.8%. The best performer on the day was Altius Minerals with a gain of 8.8% while Western Uranium was the worst performer with a loss of 7.7%.
We’re still well established in the negative side for the intermediate term. The Index remains below its negative moving average line and the momentum remains in the negative zone, still below its negative trigger line. The indicator and the trigger line are almost as one but the momentum is just a hair below the trigger. Any positive Index day and the indicator will cross the trigger to the up side confirming a new direction of the indicator. Until such time, the direction of the momentum indicator remains negative from an intermediate term perspective. For now the intermediate term rating remains BEARISH.
I’m still waiting for the indicators to change so that I can start upgrading my short term rating but to no avail. The Index is still below its negative short term moving average line with a momentum that remains in its negative zone but above its positive trigger line. The momentum indicator remains negative but the direction of the indicator has been confirmed to be upward from the short term perspective. From the more aggressive side the Stochastic Oscillator has now moved into its positive zone and pointing higher. The momentum indicators here are a breadth of fresh air suggesting underlying strength in the recent Index move but it still has not moved the rating. The short term rating remains BEARISH for another day.
1 comment:
HI Merv,
The Us sure seem to follow the general and broader market indices. Have you done any research that you want to share on the relative action of the U groups vs say oil, Nasdaq, S&P etc?
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