After The Close, 14 May 2008
Merv’s Daily Uranium Index
Market Data
Open: 286.78
Hugh: 291.58
Low: 276.13
Close: 280.56
Volume: 4809
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, it’s starting to get more serious but not yet critical. We seem to be back in that “box” confine so until we actually get out of the box, in whichever direction, we can expect volatility with the indicators bouncing up and down. This is a good example why mathematical formula or pre-programmed technical signals should be checked against the charts before acting. You can get a lot of these whip-saw effects at times. This box is now strong enough so that regardless of what the indicators may say, that box must be breached before we can get into a good trend. Most of my analysis is based upon the indicators, at least my designation of the various ratings is. There is still the chart and trends in the chart.
The Merv’s Daily Uranium Index closed lower by 7.74 points or 2.68%. There were 12 winners, 34 losers and 4 unchanged. As for the five largest stocks they were all on the losers side. Cameco lost 3.1%, Denison lost 4.2%, First Uranium lost 3.7%, Paladin lost 4.2% and Uranium One lost 6.6%. The best performer on the day was Powertech Uranium with a gain of 8.2% while the loser of the day was Uranium Resources with a loss of 11.8%.
Checking over to the The Ux Consulting Company, LLC site we see that uranium continues to go down the drain as far as its price is concerned. It dropped another $3.00 this week to $60.00. Wasn’t it around $135.00 less than a year ago. I guess as long as the price keeps falling we can expect stock prices to fall, or at the least, go nowhere. As I have often mentioned, on might expect the stock prices to firm up and start advancing ahead of the price of uranium but nothing is for certain.
The intermediate term has had a reversal of fortunes. The Index has dropped below the moving average line and the line continues to point downward. The momentum indicator is once more moving lower inside its negative zone but has not yet crossed below its trigger line. The trigger is still pointing upwards. The volume indicator is also moving lower but is still above its positive trigger line. For now the intermediate term rating has dropped back into the BEARISH camp.
On the short term The Index is still above the short term positive sloping moving average line. The momentum indicator is barely above its neutral line (it’s at 50.01) but already below its negative trigger line. The rating is still BULLISH but close to changing.
As for immediate direction, with the Index now below its very short term but still positive moving average line and the Stochastic Oscillator still in its positive zone but heading lower below its negative trigger line the rating would be – NEUTRAL, just short of bearish.
Merv’s Daily Uranium Index
Market Data
Open: 286.78
Hugh: 291.58
Low: 276.13
Close: 280.56
Volume: 4809
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, it’s starting to get more serious but not yet critical. We seem to be back in that “box” confine so until we actually get out of the box, in whichever direction, we can expect volatility with the indicators bouncing up and down. This is a good example why mathematical formula or pre-programmed technical signals should be checked against the charts before acting. You can get a lot of these whip-saw effects at times. This box is now strong enough so that regardless of what the indicators may say, that box must be breached before we can get into a good trend. Most of my analysis is based upon the indicators, at least my designation of the various ratings is. There is still the chart and trends in the chart.
The Merv’s Daily Uranium Index closed lower by 7.74 points or 2.68%. There were 12 winners, 34 losers and 4 unchanged. As for the five largest stocks they were all on the losers side. Cameco lost 3.1%, Denison lost 4.2%, First Uranium lost 3.7%, Paladin lost 4.2% and Uranium One lost 6.6%. The best performer on the day was Powertech Uranium with a gain of 8.2% while the loser of the day was Uranium Resources with a loss of 11.8%.
Checking over to the The Ux Consulting Company, LLC site we see that uranium continues to go down the drain as far as its price is concerned. It dropped another $3.00 this week to $60.00. Wasn’t it around $135.00 less than a year ago. I guess as long as the price keeps falling we can expect stock prices to fall, or at the least, go nowhere. As I have often mentioned, on might expect the stock prices to firm up and start advancing ahead of the price of uranium but nothing is for certain.
The intermediate term has had a reversal of fortunes. The Index has dropped below the moving average line and the line continues to point downward. The momentum indicator is once more moving lower inside its negative zone but has not yet crossed below its trigger line. The trigger is still pointing upwards. The volume indicator is also moving lower but is still above its positive trigger line. For now the intermediate term rating has dropped back into the BEARISH camp.
On the short term The Index is still above the short term positive sloping moving average line. The momentum indicator is barely above its neutral line (it’s at 50.01) but already below its negative trigger line. The rating is still BULLISH but close to changing.
As for immediate direction, with the Index now below its very short term but still positive moving average line and the Stochastic Oscillator still in its positive zone but heading lower below its negative trigger line the rating would be – NEUTRAL, just short of bearish.
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