After The Close, 24 July 2008
Merv’s Daily Uranium Index
Market Data
Open: 243.95
Hugh: 247.00
Low: 231.33
Close: 235.52
Volume: 4838
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It’s getting harder and harder to find anything good to say about this market. I know the time will come for a turn around with a great gravy train ahead BUT when is it coming? It must be a government run gravy train otherwise it would not be such a disaster. Okay, okay, don’t shoot the messenger, it’s just a little joke.
The Merv’s Daily Uranium Index closed lower once more and the amount of lower is getting large. The Index closed down 8.31 points or 3.41%. There were 13 winners, 29 losers and 8 going nowhere. All the major stocks were lower on the day, again lower than the Index itself. Cameco lost 3.0%, Denison lost 3.8%, First Uranium lost 0.7%, Paladin lost 6.1% and Uranium One lost 5.7%. When calculating an average % loss for the 50 component stocks that came to 1.98%. The average loss for these 5 majors was 3.86%, almost twice the average component stock loss. The majors are getting hit. The best daily performer was Uranium Resources with a gain of 8.2% while the worst performer was Titan Uranium with a loss of 13.4%.
The chart today is a short term point and figure chart. You might want to compare it with the intermediate term chart a few days back. Ever since its reversal last Nov the trend has been short term BEARISH per this chart, except for a very brief spell in May when it broke on the up side but quickly reversed with only a small loss. The more aggressive the P&F chart is the less I would be inclined to go with any of the methods of projecting price moves. However, these shorter term charts are great for understanding where we are in whatever trend we are in (does that make sense? It did when I wrote it).
Some critical Aerospace work is coming through the e-mail so I must cut the commentary short today. Nothing has changed during the day to change any of the analysis that I have written about these last few days except that the short term momentum indicator is now well inside its oversold line and in a position for some kind of a recovery. In addition the Stochastic Oscillator has just entered its oversold zone and may be in a position for a recovery also. However, the indicators are such that the ratings remain the same, intermediate and short term BEARISH with the immediate term direction of least resistance to the down side.
Merv’s Daily Uranium Index
Market Data
Open: 243.95
Hugh: 247.00
Low: 231.33
Close: 235.52
Volume: 4838
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It’s getting harder and harder to find anything good to say about this market. I know the time will come for a turn around with a great gravy train ahead BUT when is it coming? It must be a government run gravy train otherwise it would not be such a disaster. Okay, okay, don’t shoot the messenger, it’s just a little joke.
The Merv’s Daily Uranium Index closed lower once more and the amount of lower is getting large. The Index closed down 8.31 points or 3.41%. There were 13 winners, 29 losers and 8 going nowhere. All the major stocks were lower on the day, again lower than the Index itself. Cameco lost 3.0%, Denison lost 3.8%, First Uranium lost 0.7%, Paladin lost 6.1% and Uranium One lost 5.7%. When calculating an average % loss for the 50 component stocks that came to 1.98%. The average loss for these 5 majors was 3.86%, almost twice the average component stock loss. The majors are getting hit. The best daily performer was Uranium Resources with a gain of 8.2% while the worst performer was Titan Uranium with a loss of 13.4%.
The chart today is a short term point and figure chart. You might want to compare it with the intermediate term chart a few days back. Ever since its reversal last Nov the trend has been short term BEARISH per this chart, except for a very brief spell in May when it broke on the up side but quickly reversed with only a small loss. The more aggressive the P&F chart is the less I would be inclined to go with any of the methods of projecting price moves. However, these shorter term charts are great for understanding where we are in whatever trend we are in (does that make sense? It did when I wrote it).
Some critical Aerospace work is coming through the e-mail so I must cut the commentary short today. Nothing has changed during the day to change any of the analysis that I have written about these last few days except that the short term momentum indicator is now well inside its oversold line and in a position for some kind of a recovery. In addition the Stochastic Oscillator has just entered its oversold zone and may be in a position for a recovery also. However, the indicators are such that the ratings remain the same, intermediate and short term BEARISH with the immediate term direction of least resistance to the down side.
2 comments:
Well its nice.
bad credit
Such a nice blog. I hope you will create another post like this.
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