After The Close, 14 April 2008
The roller coaster continues with another minor down day for the uranium stocks. The Merv’s Daily Uranium Index closed lower by 3.50 points or 1.24%. There were twice as many losers as there were winners today. There were 15 winners and 30 losers with 5 unchanged. The top five stocks by market value were mixed with Cameco closing lower by 0.8%, Denison closing lower by 3.6%, First Uranium closing higher by 2.1%, Paladin closing lower by 4.7% and Uranium One closing higher by 3.4%. The best performer on the day was Powertech Uranium with a gain of 6.9% while the worst performer was Yellowcake Mining with a loss of 9.1%.
The intermediate term continues its almost five month bearish trend without an end in sight. The Index continues to trade below its negative sloping moving average line while the momentum indicator continues to trend inside its negative zone. However, the indicator is still just a minor amount above its positive trigger line but another down day and that wouldn’t last. The intermediate term rating remains BEARISH.
As for the short term, that continues to oscillate. The Index is still “boxed” in and no where go. It has once more dropped below its short term moving average line and the line slope has again turned downward. The short term momentum indicator continues in its negative zone and has now dropped below its trigger line. The trigger is, however, still sloping slightly upwards. Putting all that together and we get a BEARISH short term rating. As you can see the short term can oscillate quickly when the trend has not yet taken hold.
I think we’re just going to have to wait for the Index to break through that “box” for a new trend to really get going.
The roller coaster continues with another minor down day for the uranium stocks. The Merv’s Daily Uranium Index closed lower by 3.50 points or 1.24%. There were twice as many losers as there were winners today. There were 15 winners and 30 losers with 5 unchanged. The top five stocks by market value were mixed with Cameco closing lower by 0.8%, Denison closing lower by 3.6%, First Uranium closing higher by 2.1%, Paladin closing lower by 4.7% and Uranium One closing higher by 3.4%. The best performer on the day was Powertech Uranium with a gain of 6.9% while the worst performer was Yellowcake Mining with a loss of 9.1%.
The intermediate term continues its almost five month bearish trend without an end in sight. The Index continues to trade below its negative sloping moving average line while the momentum indicator continues to trend inside its negative zone. However, the indicator is still just a minor amount above its positive trigger line but another down day and that wouldn’t last. The intermediate term rating remains BEARISH.
As for the short term, that continues to oscillate. The Index is still “boxed” in and no where go. It has once more dropped below its short term moving average line and the line slope has again turned downward. The short term momentum indicator continues in its negative zone and has now dropped below its trigger line. The trigger is, however, still sloping slightly upwards. Putting all that together and we get a BEARISH short term rating. As you can see the short term can oscillate quickly when the trend has not yet taken hold.
I think we’re just going to have to wait for the Index to break through that “box” for a new trend to really get going.
4 comments:
man, looking at your pic you are very brave to put it on your site!
i hope you make enough money speculating, that you can afford some nice glasses and hopefully a beauty operation too!
Merv,
How are those positive divergences looking now?
We still have a very valid positive divergence in the short term momentum indicator and a slight positive divergence in the intermediate term. The intermediate term is so slight that I would not place much emphasis on it but the short term continues quite solid.
Further to my comment above, there is no divergence shown in the long term indicators.
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