Merv's Daily Commentary, 04 Mar 2009

After The Close, 04 Mar 2009

Merv’s Daily Uranium Index
Market Data

Open: 127.91
High: 132.07
Low: 124.31
Close: 128.23
Volume: 4708

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’re starting another little bounce within a down trending channel. This might take us to the upper limits of the channel but we’ll see how it acts as it gets there to determine if it will be more than a short rally.

The Merv’s Daily Uranium Index closed on the up side with a move of 2.54 points or 2.02%. There were 27 winners, 14 losers and 9 stocks going nowhere. Of the five largest stocks all were on the up side. Cameco gained 4.5%, Paladin gained 3.0%, Uranium One gained 11.5%, Uranium Participation gained 4.2% as did USEC. The best gainer of the day was Uranium Resources with a gain of 16.3% while the loser was Forsys Metals with a loss of 9.4%.

Have just taken a few moments from celebrating 37 years with the same fantastic wife and am on the way back to a continuation of the celebration. Nothing has changed in the indicators or ratings so see yesterday’s analysis for where we are. If we get a continuation of the rally tomorrow maybe some of the indicators will start changing again.