After The Close, 21 April 2008
Merv’s Daily Uranium Index
Market Data
Open: 285.16
Hugh: 291.29
Low: 276.57
Close: 284.04
Volume: 6364
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I will be posting the market data every day. For those who have their own technical programs and wish to do their own analysis I can provide you with the historical data in Excel format. Just email me a request at merv.burak@hudsonaero.com. It might take a few days to get back to you.
A little up and down but in the end the Merv’s Daily Uranium Index closed almost exactly where it closed on Friday. The % move on the day was 0.00%. More action was seen in the individual stocks with one stock getting a take-over offer and becoming the top performer of the day because of it. Despite the lateral move of the Index there were more losers than gainers. At the end of the day there were 19 winners, 26 losers and 5 unchanged. Of the five largest stocks there were 2 losers and three winners. Cameco gained 1.6%, Denison gained 0.5%, First Uranium lost 3.5%, Paladin lost 2.7% and Uranium One gained 3.6%. The best performer on the day was the one getting a take-over offer. Frontier Pacific gained 27.1% after Eldorado Gold offered to buy all of its shares for $0.90 CDN. The worst performer was Quaterra with a loss of 12.9%.
Just a note on unexpected market moves. Late Friday Eldorado announced its take-over offer to Frontier Pacific. However, looking at the daily chart the price closed above its intermediate term moving average line and the line turned upwards, on Thursday. At the same time, on Thursday, the intermediate term momentum indicator moved into its positive zone. All this would have given speculators a one day advantage to get in, before the announcement and before the stock took off. Someone knew something ahead of time and was acting on such information. This is why I say that MOST of the time stock prices move in advance of most investors knowing the “WHY” for such move.
Now, some might complain that the above smacks off illegal insider trading. Get over it, this is the REAL world. Learn to operate in it.
I’ve been feeling that something is about to happen for some days now. If I keep feeling so, it will happen, sooner or later, and then I can say “see, I told you so”. Unfortunately, although I have this feeling, backed up by some minor momentum strength in the daily action that the upcoming action will be to the up side I really have no SOLID technical reason for thinking so, at this time. We’ll just have to go with the day to day action and hope that the technicals will give us a good warning or signal when the action does start to take place.
As far as the intermediate term is concerned, noting yet has occurred to change the rating. The Index, momentum, moving average and volume activity remain as they were during the week-end. The intermediate term rating remains BEARISH.
We have a lot of things happening, or about to happen. The Index is butting its head up against that third FAN trend line and about to either break above or drop down. I have drawn that other third FAN trend line (dashed) that may be as valid as the one I have been drawing these past several weeks. We’ll see how things develop between both of these. At the same time the Index is in its fifth week inside that “box” and in a basic lateral trend. This causes numerous short term ratings changes as the Index oscillates up and down about its moving average line. For now the Index remains slightly above its short term positively sloping moving average line. The short term momentum indicator remains in its negative zone but still above its positive sloping trigger line. The short term rating remains BULLISH. Sooner or later, either the intermediate term must change to bullish or the short term revert to a decided bearish trend.
Merv’s Daily Uranium Index
Market Data
Open: 285.16
Hugh: 291.29
Low: 276.57
Close: 284.04
Volume: 6364
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I will be posting the market data every day. For those who have their own technical programs and wish to do their own analysis I can provide you with the historical data in Excel format. Just email me a request at merv.burak@hudsonaero.com. It might take a few days to get back to you.
A little up and down but in the end the Merv’s Daily Uranium Index closed almost exactly where it closed on Friday. The % move on the day was 0.00%. More action was seen in the individual stocks with one stock getting a take-over offer and becoming the top performer of the day because of it. Despite the lateral move of the Index there were more losers than gainers. At the end of the day there were 19 winners, 26 losers and 5 unchanged. Of the five largest stocks there were 2 losers and three winners. Cameco gained 1.6%, Denison gained 0.5%, First Uranium lost 3.5%, Paladin lost 2.7% and Uranium One gained 3.6%. The best performer on the day was the one getting a take-over offer. Frontier Pacific gained 27.1% after Eldorado Gold offered to buy all of its shares for $0.90 CDN. The worst performer was Quaterra with a loss of 12.9%.
Just a note on unexpected market moves. Late Friday Eldorado announced its take-over offer to Frontier Pacific. However, looking at the daily chart the price closed above its intermediate term moving average line and the line turned upwards, on Thursday. At the same time, on Thursday, the intermediate term momentum indicator moved into its positive zone. All this would have given speculators a one day advantage to get in, before the announcement and before the stock took off. Someone knew something ahead of time and was acting on such information. This is why I say that MOST of the time stock prices move in advance of most investors knowing the “WHY” for such move.
Now, some might complain that the above smacks off illegal insider trading. Get over it, this is the REAL world. Learn to operate in it.
I’ve been feeling that something is about to happen for some days now. If I keep feeling so, it will happen, sooner or later, and then I can say “see, I told you so”. Unfortunately, although I have this feeling, backed up by some minor momentum strength in the daily action that the upcoming action will be to the up side I really have no SOLID technical reason for thinking so, at this time. We’ll just have to go with the day to day action and hope that the technicals will give us a good warning or signal when the action does start to take place.
As far as the intermediate term is concerned, noting yet has occurred to change the rating. The Index, momentum, moving average and volume activity remain as they were during the week-end. The intermediate term rating remains BEARISH.
We have a lot of things happening, or about to happen. The Index is butting its head up against that third FAN trend line and about to either break above or drop down. I have drawn that other third FAN trend line (dashed) that may be as valid as the one I have been drawing these past several weeks. We’ll see how things develop between both of these. At the same time the Index is in its fifth week inside that “box” and in a basic lateral trend. This causes numerous short term ratings changes as the Index oscillates up and down about its moving average line. For now the Index remains slightly above its short term positively sloping moving average line. The short term momentum indicator remains in its negative zone but still above its positive sloping trigger line. The short term rating remains BULLISH. Sooner or later, either the intermediate term must change to bullish or the short term revert to a decided bearish trend.
2 comments:
don't click that link above. i'm sure as H not going to. looks like another loser with a keyboard.
DO NOT click on ANY links you may see in the comments section.
Post a Comment