After The Close, 04 Feb 2009
Merv’s Daily Uranium Index
Market Data
Open: 136.05
High: 140.76
Low: 131.29
Close: 135.46
Volume: 7449
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another day, another ho-hum market. One or two stocks showed some life but in the end the market continued to go nowhere.
The Merv’s Daily Uranium Index closed higher by 0.85 points or 0.63%. There were 25 winners, 20 losers and 5 going nowhere. The “breadth” of trading is still quite neutral and not showing strength in either direction. Of the five largest stocks, only one was on the up side. Cameco lost 4.3%, Paladin went nowhere, Uranium One gained 11.2%, Uranium Participation lost 0.8% and USEC lost 1.5%. Xemplar Energy was the winner on the day with a 48.0% move while Uranium Power was the loser with a 12.9% loss.
Once again, with such a minor Index move one would not expect much change in the indicators or ratings, but let’s go through the process. The Daily Index continues above its positive sloping intermediate term moving average line. The momentum indicator continues to move sideways just below its neutral line in the negative zone. It remains just below its trigger line and the trigger is still sloping downward. The volume indicator bounced upwards nicely today and it’s once more above its positive sloping trigger line. All in all, the rating remains + NEUTRAL.
On the short term the Index remains below its negative sloping moving average line although it is very close to breaking above on another upside day. The momentum indicator just barely moved above its neutral line but still remains below its negative trigger line. Today’s volume action was above its 15 day average volume. We could use a few more such days, especially with the Index moving higher. The short term rating, however, has remained BEARISH.
As for the immediate direction of least resistance, well that continues to be to the lateral.
Merv’s Daily Uranium Index
Market Data
Open: 136.05
High: 140.76
Low: 131.29
Close: 135.46
Volume: 7449
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another day, another ho-hum market. One or two stocks showed some life but in the end the market continued to go nowhere.
The Merv’s Daily Uranium Index closed higher by 0.85 points or 0.63%. There were 25 winners, 20 losers and 5 going nowhere. The “breadth” of trading is still quite neutral and not showing strength in either direction. Of the five largest stocks, only one was on the up side. Cameco lost 4.3%, Paladin went nowhere, Uranium One gained 11.2%, Uranium Participation lost 0.8% and USEC lost 1.5%. Xemplar Energy was the winner on the day with a 48.0% move while Uranium Power was the loser with a 12.9% loss.
Once again, with such a minor Index move one would not expect much change in the indicators or ratings, but let’s go through the process. The Daily Index continues above its positive sloping intermediate term moving average line. The momentum indicator continues to move sideways just below its neutral line in the negative zone. It remains just below its trigger line and the trigger is still sloping downward. The volume indicator bounced upwards nicely today and it’s once more above its positive sloping trigger line. All in all, the rating remains + NEUTRAL.
On the short term the Index remains below its negative sloping moving average line although it is very close to breaking above on another upside day. The momentum indicator just barely moved above its neutral line but still remains below its negative trigger line. Today’s volume action was above its 15 day average volume. We could use a few more such days, especially with the Index moving higher. The short term rating, however, has remained BEARISH.
As for the immediate direction of least resistance, well that continues to be to the lateral.
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