After The Close, 27 Jan 2009
Merv’s Daily Uranium Index
Market Data
Open: 137.86
High: 141.75
Low: 134.24
Close: 138.68
Volume: 4069
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Boy, this is one frustrating market. The uranium stocks just seem to be trapped in a deep sleep and are hesitant to wake up. I guess that is still preferred seeing as how the spot price of uranium U308 dropped $3.00 this week. Going by that we are still lucky that the stocks have not plunged.
The Merv’s Daily Uranium Index gained all of 0.39 points or 0.28% today. There were 18 winners, 25 losers and 7 going nowhere. The overall market seemed to be on the down side despite the slight Index gain. That’s probably due to the moves of the larger stocks which closed mostly higher. Cameco gained 1.0%, Paladin gained 3.3%, Uranium One lost 3.4%, Uranium Participation gained 1.7% and USEC lost 2.3%. The best winner on the day was Uranium Power with a 26.7% win while the loser on the day was Energy Fuels with a loss of 25.8%.
The momentum shown today is that of the Moving Average Convergence/Divergence (MACD) indicator. It is probably the most popular momentum type indicator with non-technicians as well as technicians. The parameters of this indicator are fixed. When used with a daily chart I would classify it as in between a short and an intermediate term indicator. I have my problems with it but many like it so I show it from time to time just to cut out the monotony. My analysis still is relative to the RSI momentum indicators as I can change the parameters to give me momentum indicators relative to any time period.
Well, let’s forget what looked like a pennant pattern as it is now null and void. The dominant features of the daily chart are still the support line from the previous “box” and the up trending channel. Both are holding their own for now. With the miniscule activity today nothing has yet changed in the indicators or ratings. The intermediate term rating remains + NEUTRAL and the short term BEARISH. See the week-end analysis for a more complete review of their positions, they have not changed since.
As for the immediate direction of least resistance, well as you might have guessed that remains to the lateral, where the action has been trending for some days now.
Merv’s Daily Uranium Index
Market Data
Open: 137.86
High: 141.75
Low: 134.24
Close: 138.68
Volume: 4069
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Boy, this is one frustrating market. The uranium stocks just seem to be trapped in a deep sleep and are hesitant to wake up. I guess that is still preferred seeing as how the spot price of uranium U308 dropped $3.00 this week. Going by that we are still lucky that the stocks have not plunged.
The Merv’s Daily Uranium Index gained all of 0.39 points or 0.28% today. There were 18 winners, 25 losers and 7 going nowhere. The overall market seemed to be on the down side despite the slight Index gain. That’s probably due to the moves of the larger stocks which closed mostly higher. Cameco gained 1.0%, Paladin gained 3.3%, Uranium One lost 3.4%, Uranium Participation gained 1.7% and USEC lost 2.3%. The best winner on the day was Uranium Power with a 26.7% win while the loser on the day was Energy Fuels with a loss of 25.8%.
The momentum shown today is that of the Moving Average Convergence/Divergence (MACD) indicator. It is probably the most popular momentum type indicator with non-technicians as well as technicians. The parameters of this indicator are fixed. When used with a daily chart I would classify it as in between a short and an intermediate term indicator. I have my problems with it but many like it so I show it from time to time just to cut out the monotony. My analysis still is relative to the RSI momentum indicators as I can change the parameters to give me momentum indicators relative to any time period.
Well, let’s forget what looked like a pennant pattern as it is now null and void. The dominant features of the daily chart are still the support line from the previous “box” and the up trending channel. Both are holding their own for now. With the miniscule activity today nothing has yet changed in the indicators or ratings. The intermediate term rating remains + NEUTRAL and the short term BEARISH. See the week-end analysis for a more complete review of their positions, they have not changed since.
As for the immediate direction of least resistance, well as you might have guessed that remains to the lateral, where the action has been trending for some days now.
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