After The Close, 26 Aug 2008
Merv’s Daily Uranium Index
Market Data
Open: 211.78
High: 218.53
Low: 207.80
Close: 214.04
Volume: 4371
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
A little down yesterday, a little up today. The Merv’s Daily Uranium Index seems to be once more going nowhere. We are once more “boxed” in but this time the upper and lower levels are not quite as clear cut as before. The Index rose by 1.09 points or 0.51% on the day. There were 22 winners, 23 losers and 5 unchanged, almost a neutral day. In fact using the average performance method (such as is used for the weekly Index) the average uranium stock advanced by only 0.02%. Even the five largest stocks made little headway, either way. Cameco gained 0.5%, Denison lost 0.8%, First Uranium was unchanged, Paladin lost 0.8% and Uranium Participation lost 0.9%. The best performer was one of our previous members of the top five, Uranium One gained 9.7%. The worst performer on the day was Khan Resources with a loss of 11.5%.
With the mild action over the past two days nothing has changed versus the commentary on the week-end. The Index remains below its negative sloping moving average line and the momentum indicator remains in its negative zone, but still above its positive trigger line. The rating remains where it was, BEARISH.
As for the short term the Index has moved slightly below its short term moving average line with the line sloping downward. The short term momentum remains below its neutral line in the negative zone. It is, however, above its positive sloping trigger line. All this gives us a rating of BEARISH.
The immediate direction of least resistance is most logically viewed as lateral at this time although it does seem to be biased on the down side.
Merv’s Daily Uranium Index
Market Data
Open: 211.78
High: 218.53
Low: 207.80
Close: 214.04
Volume: 4371
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
A little down yesterday, a little up today. The Merv’s Daily Uranium Index seems to be once more going nowhere. We are once more “boxed” in but this time the upper and lower levels are not quite as clear cut as before. The Index rose by 1.09 points or 0.51% on the day. There were 22 winners, 23 losers and 5 unchanged, almost a neutral day. In fact using the average performance method (such as is used for the weekly Index) the average uranium stock advanced by only 0.02%. Even the five largest stocks made little headway, either way. Cameco gained 0.5%, Denison lost 0.8%, First Uranium was unchanged, Paladin lost 0.8% and Uranium Participation lost 0.9%. The best performer was one of our previous members of the top five, Uranium One gained 9.7%. The worst performer on the day was Khan Resources with a loss of 11.5%.
With the mild action over the past two days nothing has changed versus the commentary on the week-end. The Index remains below its negative sloping moving average line and the momentum indicator remains in its negative zone, but still above its positive trigger line. The rating remains where it was, BEARISH.
As for the short term the Index has moved slightly below its short term moving average line with the line sloping downward. The short term momentum remains below its neutral line in the negative zone. It is, however, above its positive sloping trigger line. All this gives us a rating of BEARISH.
The immediate direction of least resistance is most logically viewed as lateral at this time although it does seem to be biased on the down side.
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