After The Close, 15 Sept 2008Merv’s Daily Uranium Index
Market Data
Open: 177.35
Hugh: 183.15
Low: 168.94
Close: 173.95
Volume: 5384
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
We just can’t seem to get a good move going. What can we blame it on today, the hurricane (financial)? That sounds as good as anything.
The Merv’s Daily Uranium Index closed down 8.07 points or 4.43%. There were 7 winners and 43 losers on the day. As for the five largest stocks, Cameco lost 5.4%, Denison lost 11.4%, First Uranium lost 5.0%, Paladin lost 11.2% and Uranium Participation lost 4.0%. The best daily performer was Xemplar Energy with a gain of 22.4% while the worst performer was a tie between East Asia Minerals and Rockgate Capital, both with losses of 20.0%.
Nothing much has changed with today’s action that I did not comment on during the week-end. On the intermediate term all remains unchanged and therefore the rating remains BEARISH.
On the short term we had a couple of minor changes. The momentum indicator moved back inside its oversold zone and its trigger line turned back to the down side. These did not affect the rating, which remains BEARISH.
As for the immediate direction of least resistance, well nothing has changed here either. Although the Index is now not pointing higher the Stochastic Oscillator has not yet turned to the down side. Looking at the Index action I would say today’s direction of least resistance is to the lateral direction with a slight upward bias.
2 comments:
Hi Merv, is there a way to get the average PE for the 5 largest companies
P/E ratio's may be obtained from a variety of major newspapers or from most financial web sites that provide stock quotes. Just add the ones you want and divide by the number of ratios added. I do not follow P/E ratios as they are based upon fundamental information (i.e. earnings)and are not a technical indicator.
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