After The Close, 09 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 124.87
High: 128.87
Low: 121.99
Close: 124.61
Volume: 3326
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Still nothing exciting is happening to the uranium stocks, in general. The Daily Index continues to nibble away up and down with a downward bias. We remain in the down trending channel with today’s action doing nothing in particular.
The Merv’s Daily Uranium Index closed lower by 1.14 points or 0.90%. Where, oh where are those 10% moves we use to have? There were 15 winners on the day, 31 losers and 4 stocks going nowhere. Cameco gained 1.1%, Paladin lost 1.7%, Uranium One gained 1.7%, Uranium Participation gained 1.7% and USEC lost 1.8%. The best winner of the day was Strathmore Minerals with a gain of 11.7% while the loser on the day was Terra Ventures with a loss of 11.3%.
As mentioned above, nothing exciting happened today. The Daily Index and indicators are basically where they were on the week-end with no change in the intermediate or short term ratings. Both are still BEARISH.
As for the direction of least resistance, that remains lateral.
Merv’s Daily Uranium Index
Market Data
Open: 124.87
High: 128.87
Low: 121.99
Close: 124.61
Volume: 3326
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Still nothing exciting is happening to the uranium stocks, in general. The Daily Index continues to nibble away up and down with a downward bias. We remain in the down trending channel with today’s action doing nothing in particular.
The Merv’s Daily Uranium Index closed lower by 1.14 points or 0.90%. Where, oh where are those 10% moves we use to have? There were 15 winners on the day, 31 losers and 4 stocks going nowhere. Cameco gained 1.1%, Paladin lost 1.7%, Uranium One gained 1.7%, Uranium Participation gained 1.7% and USEC lost 1.8%. The best winner of the day was Strathmore Minerals with a gain of 11.7% while the loser on the day was Terra Ventures with a loss of 11.3%.
As mentioned above, nothing exciting happened today. The Daily Index and indicators are basically where they were on the week-end with no change in the intermediate or short term ratings. Both are still BEARISH.
As for the direction of least resistance, that remains lateral.
2 comments:
I've noticed that at the current time Merv's Index has been moving in the same direction as oil price. I am hoping to see this pattern break with Merv's Index having a breakout.
However, yesterday the oil was up and Marv's index down. I am not a techincal analysis so maybe it nothing plus it only one data point.
For myself, I try NOT to equate the movement of one Index (stock or commodity) with that of another. The two may move together at times but if one jumps on such relationship one will find that they start moving in opposite directions just after one has made a commitment based on them moving together.
Watch carefully the movement of the Index (stock or commodity) you are interested in and go with the flow of that movement.
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