After The Close, 13 Jan 2009
Merv’s Daily Uranium Index
Market Data
Open: 137.98
High: 144.29
Low: 134.78
Close: 140.58
Volume: 4784
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
The reaction may have reached a low point and it may be lateral to upside from here. Nothing much is changing during this rest period so we just have to go with the flow for now.
The Merv’s Daily Uranium Index closed higher by 1.96 points or 1.41%. There were 18 winners, 26 losers and 6 going nowhere. A mixed market with the Index moving higher but more stocks closing lower. The five largest stocks were primarily higher. Cameco gained 3.0%, Paladin gained 5.2%, Uranium One gained 1.1%, Uranium Participation lost 1.0% and USEC gained 1.9%. The best winner of the day was Western Prospector with a gain of 43.6% while the loser of the day was Formation Capital with a loss of 15.0%.
The small gain on the day did nothing for the indicators or ratings. On the intermediate and short term nothing changed from yesterday so both time periods remain BULLISH.
As for the immediate direction of least resistance, I will continue with the lateral direction. The Index is below its very short term moving average line and the line is sloping downward. The Stochastic Oscillator has entered its negative zone, below its negative trigger line. It is very close to entering its oversold zone. Despite this downward very short term drift I will still remain with the lateral as the best guess for direction, for now.
Merv’s Daily Uranium Index
Market Data
Open: 137.98
High: 144.29
Low: 134.78
Close: 140.58
Volume: 4784
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
The reaction may have reached a low point and it may be lateral to upside from here. Nothing much is changing during this rest period so we just have to go with the flow for now.
The Merv’s Daily Uranium Index closed higher by 1.96 points or 1.41%. There were 18 winners, 26 losers and 6 going nowhere. A mixed market with the Index moving higher but more stocks closing lower. The five largest stocks were primarily higher. Cameco gained 3.0%, Paladin gained 5.2%, Uranium One gained 1.1%, Uranium Participation lost 1.0% and USEC gained 1.9%. The best winner of the day was Western Prospector with a gain of 43.6% while the loser of the day was Formation Capital with a loss of 15.0%.
The small gain on the day did nothing for the indicators or ratings. On the intermediate and short term nothing changed from yesterday so both time periods remain BULLISH.
As for the immediate direction of least resistance, I will continue with the lateral direction. The Index is below its very short term moving average line and the line is sloping downward. The Stochastic Oscillator has entered its negative zone, below its negative trigger line. It is very close to entering its oversold zone. Despite this downward very short term drift I will still remain with the lateral as the best guess for direction, for now.
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