BASIC NOTES

Uranium Companies

There are very few pure uranium companies. Most companies, especially the small exploration type, are active in more than the uranium industry. This blog makes no attempt to guage the percentage of a companies activity that are related to the finding, mining or processing of uraniun. They all do, however, have some uranium activities (to the best of our review).

Merv's Uranium Indices

I have developed two Uranium Indices. They each have the same component stocks but are calculated using different methodologies. My weekly Index is based upon the average weekly performance of the component stocks. My daily Index is based upon the daily average of the component stocks open, high, low and close prices along with the daily average volume of all component stocks.

Click on the chart or table to enlage the view.



15 January 2009

Merv's Daily Commentary, 15 Jan 2009


After The Close, 15 Jan 2009

Merv’s Daily Uranium Index
Market Data

Open: 134.65
High: 140.22
Low: 129.15
Close: 137.96
Volume: 8226

Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.

A big day for the uranium stocks with the Daily Index zooming into the stratosphere. Well, not quite but it was an up day although nothing much had changed due to such action. The P&F chart still shows the action as having broken above two previous highs but not yet above its down trend line. So, although the indicators are more positive we still have this P&F chart to contend with. Should the action break above the down trend line that would confirm the upside projection to at least the 300 level.

The Merv’s Daily Uranium Index closed higher by 2.56 points or 1.89%. There were 24 winners, 19 losers and 7 unchanged. Not yet a good win/loss ratio but heading in the right direction. As for those five largest stocks, Cameco gained 2.4%, Paladin gained 6.1%, Uranium One lost 0.5%, Uranium Participation gained 0.3% and USEC gained 3.0%. The best daily winner was Western Uranium with a gain of 22.5% while the worst daily loser was Vena Resources with a loss of 16.7%.

Although the Index moved higher, as noted above nothing has changed. I’ll therefore just cut to the chase here and say that what I said yesterday applies today. Hopefully tomorrow will see some better action.

The intermediate term remains BULLISH
The short term remains + NEUTRAL
The immediate direction of least resistance remains lateral.
Posted by at

2 comments:

Anonymous said...

Saturday morning:

Alright Merv....your killing us with anticipation! It has been a long while since we have been in a position to break out of this long term down-trend.

So here we sit, P&F from 140 to 129too....? Did we finally break out? (My guess is we are up a box, right up against the DT line.)

Thanks in advance for the work Merv. You have many out here full of appreciation! Love the P&F's!

January 17, 2009 at 2:28 PM
Anonymous said...

Friday's action wasn't all that great so we'll have to wait a little longer for the P&F to break above that down trend line.

Commentary should be up on Sunday afternoon.

January 17, 2009 at 7:27 PM

Post a Comment

Subscribe to: Post Comments (Atom)