After The Close, 22 Sept 2008
Merv’s Daily Uranium Index
Market Data
Open: 183.59
Hugh: 190.97
Low: 173.79
Close: 182.06
Volume: 5611
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, it was up but not by much. Now the big question is if this is just a breather after a huge rise or if this is the start of a stumble? We’ll see in the coming days, otherwise I would go with the indicators and keep my options open for anything.
The Merv’s Daily Uranium Index closed up by only 0.74 points or 0.41%. There were 28 winners, 16 losers and 6 going nowhere. As for the five largest stocks, Cameco gained 2.7%, Denison lost 0.5%, First Uranium lost 12.5%, Paladin gained 0.3% and Uranium Participation lost 2.9%. The best winner was Tournigan Energy with a gain of 28.2% while the worst loser was Uranerz Energy with a loss of 14.5%.
On the intermediate term nothing much has changed. The Index remains below its negative moving average line and the momentum indicator remains in its negative zone but above its positive trigger line. As for the volume indicator, it just touched its trigger line but the line itself remains negative. All in all, the intermediate term remains BEARISH.
The short term also has not changed as far as the rating is concerned. The Index remains above its moving average line but the line slope remains downwards. The momentum indicator continues to move higher above its positive trigger line but remains inside its negative zone. Today’s volume was on the down side which is a little disappointing for an up day. The short term rating remains at a + NEUTRAL level for another day.
As for the direction of least resistance that is to the up side. The Index is above its positive very short term moving average line and the Stochastic Oscillator is zooming higher and has entered its positive zone above its positive trigger line.
Merv’s Daily Uranium Index
Market Data
Open: 183.59
Hugh: 190.97
Low: 173.79
Close: 182.06
Volume: 5611
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, it was up but not by much. Now the big question is if this is just a breather after a huge rise or if this is the start of a stumble? We’ll see in the coming days, otherwise I would go with the indicators and keep my options open for anything.
The Merv’s Daily Uranium Index closed up by only 0.74 points or 0.41%. There were 28 winners, 16 losers and 6 going nowhere. As for the five largest stocks, Cameco gained 2.7%, Denison lost 0.5%, First Uranium lost 12.5%, Paladin gained 0.3% and Uranium Participation lost 2.9%. The best winner was Tournigan Energy with a gain of 28.2% while the worst loser was Uranerz Energy with a loss of 14.5%.
On the intermediate term nothing much has changed. The Index remains below its negative moving average line and the momentum indicator remains in its negative zone but above its positive trigger line. As for the volume indicator, it just touched its trigger line but the line itself remains negative. All in all, the intermediate term remains BEARISH.
The short term also has not changed as far as the rating is concerned. The Index remains above its moving average line but the line slope remains downwards. The momentum indicator continues to move higher above its positive trigger line but remains inside its negative zone. Today’s volume was on the down side which is a little disappointing for an up day. The short term rating remains at a + NEUTRAL level for another day.
As for the direction of least resistance that is to the up side. The Index is above its positive very short term moving average line and the Stochastic Oscillator is zooming higher and has entered its positive zone above its positive trigger line.
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