Merv's Daily Commentary, 15 May 2008

After The Close, 15 May 2008

Merv’s Daily Uranium Index
Market Data

Open: 281.70
Hugh: 291.16
Low: 277.67
Close: 286.14
Volume: 4891

Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.

The roller coaster continues. Today is an up day, tomorrow ??

The Merv’s Daily Uranium Index closed higher by 5.57 points or 1.99%. There were 26 stocks on the up side, 18 on the down side and 6 on no side at all. Cameco gained 2.3%, Denison gained 3.1%, First Uranium gained 0.6%, Paladin gained 7.2% and Uranium One gained 5.9%. The best gainer was Yellowcake Mining with a gain of 22.2% while the worst loser was Mawson with a loss of 10.9%.

On the intermediate term we are just a hair shy from the Index closing above its moving average line. The moving average continues to slope downward but less and less so. The momentum indicator remains in its negative zone but above its positive trigger line. The rating remains BEARISH for another day.

On the short term the Index continues above its positive moving average line. The momentum indicator continues just above its neutral line but below its positive sloping trigger line. The short term remains BULLISH.

Today’s commentary is short because I have a problem trying to install a simple DVD player and it’s just not working. The problem is most likely something very simple but I guess THAT’S the problem. We often miss the simple things while looking for the complicated.