After The Close, 11 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 125.76
High: 130.79
Low: 122.77
Close: 128.42
Volume: 4212
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Well, that’s two days in a row now. Are we into a roaring rally here?
Unfortunately, we are still in the channel and most indicators (not all) are still unchanged but are in the process and maybe tomorrow.
The Merv’s Daily Uranium Index closed higher by 2.23 points or 1.77%. There were 20 winners, 15 losers and 15 going nowhere. Without going back into the archives I don’t remember such a large number of unchanged stocks in any one day. Unchanged to me represents stocks that speculators are unsure which way it should go, a neutral type of position. As for those five largest stocks, Cameco gained 4.4%, Paladin lost 4.0%, Uranium One gained 9.5%, Uranium Participation lost 0.3% and USEC gained 7.2%. The best winner of the day was Khan Resources with a gain of 25.8% while the loser of the day was East Asia Minerals with a loss of 18.9%.
In the intermediate term things are firming up. Although the Daily Index remains below its negative moving average line the momentum indicator has turned around and is now above its trigger line. At this time the momentum is still in its negative zone but the trigger line has moved upwards. The volume indicator remains positive and above its positive trigger line. However, the rating remains BEARISH for at least another day.
The short term is also perking up. The Index has closed just above its moving average line but the line slope is still to the down side. The momentum indicator is showing signs of strengthening but is still in its negative zone. It has moved above its trigger line although the trigger is still pointing slightly downward. As for the daily volume action, nothing new here, the daily volume is still on the low side. The rating here is starting to move and is now at the NEUTRAL level.
As for the immediate direction of least resistance, I should go to the upside here but I think I’ll stick with the lateral for another day.
Merv’s Daily Uranium Index
Market Data
Open: 125.76
High: 130.79
Low: 122.77
Close: 128.42
Volume: 4212
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Well, that’s two days in a row now. Are we into a roaring rally here?
Unfortunately, we are still in the channel and most indicators (not all) are still unchanged but are in the process and maybe tomorrow.
The Merv’s Daily Uranium Index closed higher by 2.23 points or 1.77%. There were 20 winners, 15 losers and 15 going nowhere. Without going back into the archives I don’t remember such a large number of unchanged stocks in any one day. Unchanged to me represents stocks that speculators are unsure which way it should go, a neutral type of position. As for those five largest stocks, Cameco gained 4.4%, Paladin lost 4.0%, Uranium One gained 9.5%, Uranium Participation lost 0.3% and USEC gained 7.2%. The best winner of the day was Khan Resources with a gain of 25.8% while the loser of the day was East Asia Minerals with a loss of 18.9%.
In the intermediate term things are firming up. Although the Daily Index remains below its negative moving average line the momentum indicator has turned around and is now above its trigger line. At this time the momentum is still in its negative zone but the trigger line has moved upwards. The volume indicator remains positive and above its positive trigger line. However, the rating remains BEARISH for at least another day.
The short term is also perking up. The Index has closed just above its moving average line but the line slope is still to the down side. The momentum indicator is showing signs of strengthening but is still in its negative zone. It has moved above its trigger line although the trigger is still pointing slightly downward. As for the daily volume action, nothing new here, the daily volume is still on the low side. The rating here is starting to move and is now at the NEUTRAL level.
As for the immediate direction of least resistance, I should go to the upside here but I think I’ll stick with the lateral for another day.
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