After The Close, 15 Oct 2008Merv’s Daily Uranium Index
Market Data
Open: 115.87
Hugh: 117.98
Low: 102.66
Close: 106.01
Volume: 6007
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Ho Hum! Another day and another bummer. We did see this coming yesterday. We might be getting into one of those “box” patterns but the bottom is not yet well defined. I guess we’ll just have to wait for another day or two to see how things develop from here.
The Merv’s Daily Uranium Index closed lower on the day by 11.13 points or 9.50%. There were 9 winners, 37 losers and 4 unchanged. As for the five largest stocks, Cameco lost 14.0%, Denison lost 12.9%, Paladin lost 17.8%, Uranium One was unchanged and USEC lost 14.0%. The best performer on the day was Alberta Star with a gain of 25.8% while the worst performer was Western Prospector with a loss of 28.8%.
So, let’s just see if anything has changed from the ratings standpoint.
NOPE.
Although the various indicators have basically moved lower nothing has changed in the intermediate and short term ratings from yesterday. Both remain BEARISH.
As for the direction of least resistance, although the Stochastic Oscillator remains in an upward direction I have no reason to reverse yesterday’s downward direction as the one with the least resistance.
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