After The Close, 17 Sept 2008
Merv’s Daily Uranium Index
Market Data
Open: 116.02
Hugh: 171.24
Low: 155.43
Close: 159.72
Volume: 6662
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I was beginning to wonder if the price of uranium will continue its sideways drift but this week it finally broke its several week $64.50 price and dropped $2.50 to $62.00. I guess with so much plunging going on in the market lately it was hard to keep the price up. Speaking of plunging, the Daily Index hit a new bear market low again today. Just for a change of pace I thought I’d show the Index from its all time high in April of 2007 to the present. We see the Weekly Index each week-end but I’m not sure I showed what the Daily looked like that far back. Not a pretty site. But if one stand on his head, it looks better.
The Merv’s Daily Uranium Index closed lower by 8.44 points or 5.02%. There were 12 winner, 36 losers and 2 unchanged. All of the five largest stocks were on the decline. Cameco lost 6.0%, Denison lost 10.3%, First Uranium lost 1.4%, Paladin lost 7.2% and Uranium Participation lost 7.6%. The best performer today was JNR Resources with a gain of 9.3% while the worst performer was Uranium 308 with a loss of 29.4%.
We are getting many stocks in the Index that are into the “penny” range. It may be time to look over my directory of uranium stocks to see if there have been any significant shift in the valuations that would require changing the component list. The major problem is that the rest of the list has declined just as has the component list and we may be stuck with the pennies in the list.
With the decline into new lows nothing much has changed in the various ratings so I wouldn’t belabor the point. Both the intermediate and long term ratings are BEARISH. The intermediate term momentum is continuing to move lower into new low levels while the short term momentum has not yet moved into new lows but is well inside its oversold zone.
On the immediate term the Stochastic Oscillator has finally turned downwards and has crossed below its negative trigger line. With the Index heading lower the direction of least resistance must now be thought of as to the down side. Having said that, that’s when it should now turn up.
Merv’s Daily Uranium Index
Market Data
Open: 116.02
Hugh: 171.24
Low: 155.43
Close: 159.72
Volume: 6662
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I was beginning to wonder if the price of uranium will continue its sideways drift but this week it finally broke its several week $64.50 price and dropped $2.50 to $62.00. I guess with so much plunging going on in the market lately it was hard to keep the price up. Speaking of plunging, the Daily Index hit a new bear market low again today. Just for a change of pace I thought I’d show the Index from its all time high in April of 2007 to the present. We see the Weekly Index each week-end but I’m not sure I showed what the Daily looked like that far back. Not a pretty site. But if one stand on his head, it looks better.
The Merv’s Daily Uranium Index closed lower by 8.44 points or 5.02%. There were 12 winner, 36 losers and 2 unchanged. All of the five largest stocks were on the decline. Cameco lost 6.0%, Denison lost 10.3%, First Uranium lost 1.4%, Paladin lost 7.2% and Uranium Participation lost 7.6%. The best performer today was JNR Resources with a gain of 9.3% while the worst performer was Uranium 308 with a loss of 29.4%.
We are getting many stocks in the Index that are into the “penny” range. It may be time to look over my directory of uranium stocks to see if there have been any significant shift in the valuations that would require changing the component list. The major problem is that the rest of the list has declined just as has the component list and we may be stuck with the pennies in the list.
With the decline into new lows nothing much has changed in the various ratings so I wouldn’t belabor the point. Both the intermediate and long term ratings are BEARISH. The intermediate term momentum is continuing to move lower into new low levels while the short term momentum has not yet moved into new lows but is well inside its oversold zone.
On the immediate term the Stochastic Oscillator has finally turned downwards and has crossed below its negative trigger line. With the Index heading lower the direction of least resistance must now be thought of as to the down side. Having said that, that’s when it should now turn up.
3 comments:
im here because of few cents for you. just dropping by.
its good to know about it? where did you get that information?
i think you add more info about it.
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