After The Close, 22 Oct 2008
Merv’s Daily Uranium Index
Market Data
Open: 111.86
Hugh: 114.71
Low: 102.14
Close: 105.03
Volume: 4743
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Another down day but we are still in that box. How long we stay in the box is unknown but the basic criteria is the longer it stays there before breaking out the stronger the break-out will be. As it’s going, the break should be significant.
The Merv’s Daily Uranium Index closed lower by 9.21 points or 8.06%. There were only 6 winners on the day but 41 losers made the grade. 3 stocks just sat there doing nothing. Of the five largest stocks Cameco lost 9.4%, Denison lost 5.9%, Paladin lost 10.7%, Uranium One lost 19.8% and USEC lost 3.8%. The best of the 6 winners was Strateco with a gain of 8.8% while we had a tie for the loser of the day, Formation Capital and Hathor Exploration both lost 20.0%.
The intermediate term continues to be a bummer with no changes to the indicators. The Index is still below its negative moving average line and the momentum indicator is still deep in its negative zone but above its positive trigger line. Despite this minor positive the rating continues to be BEARISH.
On the short term the momentum remains in its negative zone above its positive trigger line, but only slightly so. The Index has once more moved below its negative moving average line. This has once again decreased the rating back to the BEARISH one.
As for the immediate direction of least resistance, that will be to the lateral direction. The aggressive Stochastic Oscillator has moved into its positive zone above its positive trigger line but it seems to be turning and could drop back below the neutral line on another down day.
Merv’s Daily Uranium Index
Market Data
Open: 111.86
Hugh: 114.71
Low: 102.14
Close: 105.03
Volume: 4743
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Another down day but we are still in that box. How long we stay in the box is unknown but the basic criteria is the longer it stays there before breaking out the stronger the break-out will be. As it’s going, the break should be significant.
The Merv’s Daily Uranium Index closed lower by 9.21 points or 8.06%. There were only 6 winners on the day but 41 losers made the grade. 3 stocks just sat there doing nothing. Of the five largest stocks Cameco lost 9.4%, Denison lost 5.9%, Paladin lost 10.7%, Uranium One lost 19.8% and USEC lost 3.8%. The best of the 6 winners was Strateco with a gain of 8.8% while we had a tie for the loser of the day, Formation Capital and Hathor Exploration both lost 20.0%.
The intermediate term continues to be a bummer with no changes to the indicators. The Index is still below its negative moving average line and the momentum indicator is still deep in its negative zone but above its positive trigger line. Despite this minor positive the rating continues to be BEARISH.
On the short term the momentum remains in its negative zone above its positive trigger line, but only slightly so. The Index has once more moved below its negative moving average line. This has once again decreased the rating back to the BEARISH one.
As for the immediate direction of least resistance, that will be to the lateral direction. The aggressive Stochastic Oscillator has moved into its positive zone above its positive trigger line but it seems to be turning and could drop back below the neutral line on another down day.
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