After The Close, 25 Sept 2008
Merv’s Daily Uranium Index
Market Data
Open: 180.41
Hugh: 185.74
Low: 173.05
Close: 180.27
Volume: 3379
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
After the detailed review yesterday and with next to no movement in the Index today things are at a standstill. Today’s commentary will be brief for that reason.
Merv’s Daily Uranium Index closed lower today by 0.64 points or 0.35%. There were 18 stocks on the up side, 28 on the down side and 4 on no side. Cameco gained 0.5% while the rest of the top five stocks closed down. Denison lost 0.3%, First Uranium lost 2.1%, Paladin lost 1.3% and Uranium Participation lost 2.2%. The best winner on the day was Forsys Metals with a gain of 9.5% while the worst loser was Rockgate Capital with a loss of 18.2%.
Again, nothing has changed in the intermediate term indicators from yesterday so the rating remains as it was, BEARISH.
On the short term although everything looks unchanged the short term moving average line has just turned up by a hair. That was enough to upgrade the short term rating to a full BULLISH rating. I would take this upgrade with a little bit of caution until we have a decent up or down day to confirm or not.
The very short term remains bullish although the Stochastic Oscillator has now moved below its trigger line. The trigger, however, remains sloping upwards. The reverse head and shoulder pattern remains in effect and only requires the neckline (shown) to be broken on the up side for validation. For this reason I will remain with my direction of least resistance as upward although it probably should be sideways.
Merv’s Daily Uranium Index
Market Data
Open: 180.41
Hugh: 185.74
Low: 173.05
Close: 180.27
Volume: 3379
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
After the detailed review yesterday and with next to no movement in the Index today things are at a standstill. Today’s commentary will be brief for that reason.
Merv’s Daily Uranium Index closed lower today by 0.64 points or 0.35%. There were 18 stocks on the up side, 28 on the down side and 4 on no side. Cameco gained 0.5% while the rest of the top five stocks closed down. Denison lost 0.3%, First Uranium lost 2.1%, Paladin lost 1.3% and Uranium Participation lost 2.2%. The best winner on the day was Forsys Metals with a gain of 9.5% while the worst loser was Rockgate Capital with a loss of 18.2%.
Again, nothing has changed in the intermediate term indicators from yesterday so the rating remains as it was, BEARISH.
On the short term although everything looks unchanged the short term moving average line has just turned up by a hair. That was enough to upgrade the short term rating to a full BULLISH rating. I would take this upgrade with a little bit of caution until we have a decent up or down day to confirm or not.
The very short term remains bullish although the Stochastic Oscillator has now moved below its trigger line. The trigger, however, remains sloping upwards. The reverse head and shoulder pattern remains in effect and only requires the neckline (shown) to be broken on the up side for validation. For this reason I will remain with my direction of least resistance as upward although it probably should be sideways.
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