After The Close, 25 Feb 2009
Merv’s Daily Uranium Index
Market Data
Open: 128.25
High: 133.22
Low: 125.31
Close: 130.51
Volume: 3385
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
We seem to be back to the nibble, nibble market. Very small steps up and down without any real strength either way. I guess we’ll just have to live with it until the day comes when the sky’s open up. That day will probably be totally unexpected but we will catch it here within a day or two of its happening.
The Merv’s Daily Uranium Index closed higher today by 1.27 points or 0.98%. There were 20 winners, 20 losers and 10 going nowhere. A real neutral day. Although the Index closed lower by almost a % the average price of a component stock went nowhere with only a 0.06% loss. As for those five largest stocks, Cameco gained 3.1%, Paladin lost 2.6%, Uranium One gained 2.2%, Uranium Participation lost 0.3% and USEC lost 2.9%, The best winner on the day was a tie between Bayswater Uranium and Uranium Energy each with a 16.7% gain while the loser on the day was Quaterra with a loss of 16.5%.
Once again with the small move nothing has changed in the indicators or ratings. Both the intermediate and short term remain BEARISH although the indicators are improving but not yet to the point of changing anything.
As for the immediate direction of least resistance, sideways or lateral remains the word.
Merv’s Daily Uranium Index
Market Data
Open: 128.25
High: 133.22
Low: 125.31
Close: 130.51
Volume: 3385
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
We seem to be back to the nibble, nibble market. Very small steps up and down without any real strength either way. I guess we’ll just have to live with it until the day comes when the sky’s open up. That day will probably be totally unexpected but we will catch it here within a day or two of its happening.
The Merv’s Daily Uranium Index closed higher today by 1.27 points or 0.98%. There were 20 winners, 20 losers and 10 going nowhere. A real neutral day. Although the Index closed lower by almost a % the average price of a component stock went nowhere with only a 0.06% loss. As for those five largest stocks, Cameco gained 3.1%, Paladin lost 2.6%, Uranium One gained 2.2%, Uranium Participation lost 0.3% and USEC lost 2.9%, The best winner on the day was a tie between Bayswater Uranium and Uranium Energy each with a 16.7% gain while the loser on the day was Quaterra with a loss of 16.5%.
Once again with the small move nothing has changed in the indicators or ratings. Both the intermediate and short term remain BEARISH although the indicators are improving but not yet to the point of changing anything.
As for the immediate direction of least resistance, sideways or lateral remains the word.
1 comment:
Great chart Merv. Dont like the way it looks technically though with the 15 and 65 DMA now providing resistance, instead of support.
Hopefully we can break through to the upside here pretty quickly.
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