After The Close, 24 April 2008
Merv’s Daily Uranium Index
Market Data
Open: 274.67
Hugh: 277.93
Low: 263.53
Close: 269.67
Volume: 4182
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The daily action remained inside the “box”. Although the daily low has did not hit new lows the closing price was at a new bear market low, although by only a fraction of a point. Still the direction of least resistance seems to be towards the down side. About the only real positive left on the chart is the fact that the action still remains inside the “box”. I wish I had some good news to offer but I don’t. Well, only if you are investing in uranium utilities. They seem to be getting uranium at a low price and best of all for them there does not seem to be a shortage of uranium at the present time. Now, if we can only link uranium with the food crisis maybe we can get the price to shoot up same as with food stuff.
The Merv’s Daily Uranium Index closed lower by 5.68 points or 2.06%. There were 10 winners, 36 losers and 4 going nowhere. Of the five largest stocks, Cameco lost 2.9%, Denison lost 5.7%, First Uranium lost 2.8%, Paladin lost 1.0% and Uranium One lost 2.7%. The best performer on the day was Mawson with a gain of 12.1% while the worst performer was Xemplar Energy with a loss of 15.0%.
This is a recording, the intermediate term rating remains BEARISH. ‘nuff said.
On the short term the Index continues to move further and further away from its moving average line, and away from that third FAN trend line. The moving average is turning more and more negative in the process. The short term momentum is in its negative zone and moving lower below its negative trigger line. The volume indicator is now also below its negative sloping trigger line. Everything is negative from the short term perspective. The only piece of possible good news is that the Index is still inside its “box” and above a well established short term support. How long it will last remains to be seen. For now the short term rating can only be BEARISH.
URANIUM TABLE
I hope readers of this blog make use of the uranium tables posted here twice a week. The tables, and especially the daily table posted on Wednesday evenings, provide a very good idea of where the various stocks are and if they seem to be getting ready for any moves. Of course the short term should warn you of any potential changes of trend first but I would be inclined to go with the intermediate term information for actual buying and selling suggestions. Unfortunately, at this time there is very little good news in the table. One thing I have learned with these tables, although they may not be always right and whip-saw events do happen, all in all one is taking extra risks of capital loss when going against the message of the table.
Merv’s Daily Uranium Index
Market Data
Open: 274.67
Hugh: 277.93
Low: 263.53
Close: 269.67
Volume: 4182
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The daily action remained inside the “box”. Although the daily low has did not hit new lows the closing price was at a new bear market low, although by only a fraction of a point. Still the direction of least resistance seems to be towards the down side. About the only real positive left on the chart is the fact that the action still remains inside the “box”. I wish I had some good news to offer but I don’t. Well, only if you are investing in uranium utilities. They seem to be getting uranium at a low price and best of all for them there does not seem to be a shortage of uranium at the present time. Now, if we can only link uranium with the food crisis maybe we can get the price to shoot up same as with food stuff.
The Merv’s Daily Uranium Index closed lower by 5.68 points or 2.06%. There were 10 winners, 36 losers and 4 going nowhere. Of the five largest stocks, Cameco lost 2.9%, Denison lost 5.7%, First Uranium lost 2.8%, Paladin lost 1.0% and Uranium One lost 2.7%. The best performer on the day was Mawson with a gain of 12.1% while the worst performer was Xemplar Energy with a loss of 15.0%.
This is a recording, the intermediate term rating remains BEARISH. ‘nuff said.
On the short term the Index continues to move further and further away from its moving average line, and away from that third FAN trend line. The moving average is turning more and more negative in the process. The short term momentum is in its negative zone and moving lower below its negative trigger line. The volume indicator is now also below its negative sloping trigger line. Everything is negative from the short term perspective. The only piece of possible good news is that the Index is still inside its “box” and above a well established short term support. How long it will last remains to be seen. For now the short term rating can only be BEARISH.
URANIUM TABLE
I hope readers of this blog make use of the uranium tables posted here twice a week. The tables, and especially the daily table posted on Wednesday evenings, provide a very good idea of where the various stocks are and if they seem to be getting ready for any moves. Of course the short term should warn you of any potential changes of trend first but I would be inclined to go with the intermediate term information for actual buying and selling suggestions. Unfortunately, at this time there is very little good news in the table. One thing I have learned with these tables, although they may not be always right and whip-saw events do happen, all in all one is taking extra risks of capital loss when going against the message of the table.
No comments:
Post a Comment