After The Close, 05 May 2008
Merv’s Daily Uranium Index
Market Data
Open: 263.96
Hugh: 270.07
Low: 259.92
Close: 264.61
Volume: 3536
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It was a ho-hum type of day for the uranium stocks, a sleepy dull day. The Merv’s Daily Uranium Index closed higher by all of 0.45 points or 0.01%. There were 20 winners and 21 losers with 9 going nowhere. Of the five largest stocks all were on the plus side, or more accurately, none were on the minus side. Cameco gained 0.7%, Denison gained 1.7%, First Uranium gained 1.8%, Paladin gained 2.6% and Uranium One, the only none gainer, closed unchanged. The best performer was Titan Uranium with a gain of 7.2% while the worst performer was Laramide with a loss of 6.6%. I don’t remember if we have had such a small spread between the best and the worst before.
To cut to the chase, the intermediate term rating remains BEARISH for all the reasons I have been talking about for many weeks.
The Index continues to hug that third FAN trend line and one can expect something to happen soon. The Index also remains below its negative sloping short term moving average line. The two are now very close so it should take only a relatively small upside day for the Index to breach the line. As for the momentum indicator, it continues to move higher, above its positive trigger line but not yet above its neutral line, i.e. still in the negative zone. The aggressive stochastic Oscillator continues to move sharply higher above its positive trigger line and just barely still in its negative zone. The short term rating remains BEARISH but by the looks of it the rating could start changing very soon.
The very short term (or immediate term) is looking a lot better than the Index action or short term might suggest. The Index closed above its very short term moving average line but the line slope is still pointing towards the down side. The aggressive Stochastic Oscillator just about broke into its positive zone but missed it by a hair. It is moving upwards quite aggressively and is well above its positive trigger line. The immediate term direction is towards the up side and the rating has been upgraded to + NEUTRAL.
Merv’s Daily Uranium Index
Market Data
Open: 263.96
Hugh: 270.07
Low: 259.92
Close: 264.61
Volume: 3536
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It was a ho-hum type of day for the uranium stocks, a sleepy dull day. The Merv’s Daily Uranium Index closed higher by all of 0.45 points or 0.01%. There were 20 winners and 21 losers with 9 going nowhere. Of the five largest stocks all were on the plus side, or more accurately, none were on the minus side. Cameco gained 0.7%, Denison gained 1.7%, First Uranium gained 1.8%, Paladin gained 2.6% and Uranium One, the only none gainer, closed unchanged. The best performer was Titan Uranium with a gain of 7.2% while the worst performer was Laramide with a loss of 6.6%. I don’t remember if we have had such a small spread between the best and the worst before.
To cut to the chase, the intermediate term rating remains BEARISH for all the reasons I have been talking about for many weeks.
The Index continues to hug that third FAN trend line and one can expect something to happen soon. The Index also remains below its negative sloping short term moving average line. The two are now very close so it should take only a relatively small upside day for the Index to breach the line. As for the momentum indicator, it continues to move higher, above its positive trigger line but not yet above its neutral line, i.e. still in the negative zone. The aggressive stochastic Oscillator continues to move sharply higher above its positive trigger line and just barely still in its negative zone. The short term rating remains BEARISH but by the looks of it the rating could start changing very soon.
The very short term (or immediate term) is looking a lot better than the Index action or short term might suggest. The Index closed above its very short term moving average line but the line slope is still pointing towards the down side. The aggressive Stochastic Oscillator just about broke into its positive zone but missed it by a hair. It is moving upwards quite aggressively and is well above its positive trigger line. The immediate term direction is towards the up side and the rating has been upgraded to + NEUTRAL.
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