After The Close, 18 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 132.21
High: 136.96
Low: 125.76
Close: 134.39
Volume: 5797
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Little by little it’s getting there. That volume indicator is really trying to tell us something. It is getting very close to all time high territory, higher even when the Index was at its highest level over a year and a half ago. The volume activity really started when the Index broke out of that “box” last December. Since then it’s been almost a steady climb even while the Index has been moving lower. This type of activity may be considered as an accumulation period by the professional speculators. They will buy stock moving the Index higher, then let it fall on its own weight and then pick up more stock. When these speculators are ready they will push the stocks (and Index) through major resistance levels and sit back and profit as the masses jump on the gravy train at higher and higher prices.
The Merv’s Daily Uranium Index closed on the up side again, today by 1.51 points or 1.13%. There were only 19 winners and 18 losers with 13 going nowhere. I never like it when the unchanged has such a large number of stocks. It just suggests that at least today the speculators did not know what to do. Maybe they still want more stock and are letting the prices fall under their own weight but the weight is no longer there to continue with the game. As for those five largest stocks they were mostly higher. Cameco gained 0.3%, Paladin went nowhere, Uranium One gained 5.2%, Uranium Participation lost 0.8% and USEC gained 4.7%. The best winner on the day was Titan Uranium with a gain of 26.5% while the loser on the day was Alberta Star with a loss of 7.4%.
The intermediate term is looking brighter and brighter. The Index closed just above its moving average line and the line slope just very, very slightly turned upwards. The momentum indicator is still in its negative zone but moving upward and is above its positive trigger line. The volume indicator, well all one can say is gung-ho. The intermediate term has suddenly turned all the way to the BULLISH side with this small move. It’s very early in the turn so whip-saws are possible but at this time the reading from the indicators says bullish.
Everything on the short term is positive. The Index remains above its short term moving average line and the line continues to turn more positive. The momentum is in its positive zone and continues to move higher. It remains above its positive trigger line. As for the daily volume activity, it is perking up although I would like to see it a little higher than the recent daily volume. All in all the short term remains BULLISH.
As for the direction of least resistance, I will continue with the up side as there is nothing in the very short term or aggressive indicators to suggest otherwise.
Merv’s Daily Uranium Index
Market Data
Open: 132.21
High: 136.96
Low: 125.76
Close: 134.39
Volume: 5797
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Little by little it’s getting there. That volume indicator is really trying to tell us something. It is getting very close to all time high territory, higher even when the Index was at its highest level over a year and a half ago. The volume activity really started when the Index broke out of that “box” last December. Since then it’s been almost a steady climb even while the Index has been moving lower. This type of activity may be considered as an accumulation period by the professional speculators. They will buy stock moving the Index higher, then let it fall on its own weight and then pick up more stock. When these speculators are ready they will push the stocks (and Index) through major resistance levels and sit back and profit as the masses jump on the gravy train at higher and higher prices.
The Merv’s Daily Uranium Index closed on the up side again, today by 1.51 points or 1.13%. There were only 19 winners and 18 losers with 13 going nowhere. I never like it when the unchanged has such a large number of stocks. It just suggests that at least today the speculators did not know what to do. Maybe they still want more stock and are letting the prices fall under their own weight but the weight is no longer there to continue with the game. As for those five largest stocks they were mostly higher. Cameco gained 0.3%, Paladin went nowhere, Uranium One gained 5.2%, Uranium Participation lost 0.8% and USEC gained 4.7%. The best winner on the day was Titan Uranium with a gain of 26.5% while the loser on the day was Alberta Star with a loss of 7.4%.
The intermediate term is looking brighter and brighter. The Index closed just above its moving average line and the line slope just very, very slightly turned upwards. The momentum indicator is still in its negative zone but moving upward and is above its positive trigger line. The volume indicator, well all one can say is gung-ho. The intermediate term has suddenly turned all the way to the BULLISH side with this small move. It’s very early in the turn so whip-saws are possible but at this time the reading from the indicators says bullish.
Everything on the short term is positive. The Index remains above its short term moving average line and the line continues to turn more positive. The momentum is in its positive zone and continues to move higher. It remains above its positive trigger line. As for the daily volume activity, it is perking up although I would like to see it a little higher than the recent daily volume. All in all the short term remains BULLISH.
As for the direction of least resistance, I will continue with the up side as there is nothing in the very short term or aggressive indicators to suggest otherwise.
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