After The Close, 19 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 136.90
High: 145.02
Low: 133.25
Close: 139.78
Volume: 7424
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Now that’s a little more like it. It’s been over two months since we had a good daily advance. It’s still not like the good old days of 8% to 10% daily advances but we’ll take it anyway.
I usually review the long term only on a weekly basis as nothing normally happens on a day to day basis. I show the long term moving average line on the chart today not because anything has changed but that it’s getting very close for a change to take place. The Index is just below the long term moving average line and it wouldn’t take much more positive action to get it above the line. It will still take a little bit more after that to turn the moving average around to the up side but we’re getting there.
The Merv’s Daily Uranium Index closed on the up side today, by 5.39 points or 4.01%. There were 32 winners, 13 losers and 5 going nowhere. I did a review of the stocks today and replaced Vena with Mawson. In the process it was noticed that First Uranium has replaced Uranium Participation in the list of the top five stocks by market value. The five stocks had a wide performance range today but still all on the up side. Cameco gained 1.1%, First Uranium gained 20.9%, Paladin gained 10.2%, Uranium One gained 4.6% and USEC gained 6.9%. The best gainer on the day was Titan Uranium with a gain of 37.2% while the loser on the day was Denison Mines with a loss of 19.9%.
Well, we’re through that channel, now to see that it stays above that upper channel line. It was a resistance line but now that the Index broke through it should become a support line. I guess the next point to watch is for a move into new recovery highs. That just might come next week. In the mean time the Index moves higher above its intermediate term positively sloping moving average line. The intermediate term momentum indicator has finally popped its head above its neutral line into its positive zone and above its positive trigger line. The volume indicator continues to zoom ever higher and higher. Everything is continuing to look good. The intermediate term rating remains BULLISH.
On the short term everything is also looking great, maybe too great. The Index is nicely above its positive sloping moving average line. The momentum indicator continues to move higher inside its positive zone and above its positive trigger line. It is, however, getting closer to its overbought line from where we start to expect a rest period to take place. More on this, possibly on the week-end. The daily volume activity is looking good on the up side but I would still like to see a little more upside action than we have had. All in all, the short term remains BULLISH.
As for the immediate direction of least resistance, that would be to the up side. Nothing yet is telling me that we are due for an immediate possible rest (but anything can happen and one should never be surprised).
Merv’s Daily Uranium Index
Market Data
Open: 136.90
High: 145.02
Low: 133.25
Close: 139.78
Volume: 7424
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Now that’s a little more like it. It’s been over two months since we had a good daily advance. It’s still not like the good old days of 8% to 10% daily advances but we’ll take it anyway.
I usually review the long term only on a weekly basis as nothing normally happens on a day to day basis. I show the long term moving average line on the chart today not because anything has changed but that it’s getting very close for a change to take place. The Index is just below the long term moving average line and it wouldn’t take much more positive action to get it above the line. It will still take a little bit more after that to turn the moving average around to the up side but we’re getting there.
The Merv’s Daily Uranium Index closed on the up side today, by 5.39 points or 4.01%. There were 32 winners, 13 losers and 5 going nowhere. I did a review of the stocks today and replaced Vena with Mawson. In the process it was noticed that First Uranium has replaced Uranium Participation in the list of the top five stocks by market value. The five stocks had a wide performance range today but still all on the up side. Cameco gained 1.1%, First Uranium gained 20.9%, Paladin gained 10.2%, Uranium One gained 4.6% and USEC gained 6.9%. The best gainer on the day was Titan Uranium with a gain of 37.2% while the loser on the day was Denison Mines with a loss of 19.9%.
Well, we’re through that channel, now to see that it stays above that upper channel line. It was a resistance line but now that the Index broke through it should become a support line. I guess the next point to watch is for a move into new recovery highs. That just might come next week. In the mean time the Index moves higher above its intermediate term positively sloping moving average line. The intermediate term momentum indicator has finally popped its head above its neutral line into its positive zone and above its positive trigger line. The volume indicator continues to zoom ever higher and higher. Everything is continuing to look good. The intermediate term rating remains BULLISH.
On the short term everything is also looking great, maybe too great. The Index is nicely above its positive sloping moving average line. The momentum indicator continues to move higher inside its positive zone and above its positive trigger line. It is, however, getting closer to its overbought line from where we start to expect a rest period to take place. More on this, possibly on the week-end. The daily volume activity is looking good on the up side but I would still like to see a little more upside action than we have had. All in all, the short term remains BULLISH.
As for the immediate direction of least resistance, that would be to the up side. Nothing yet is telling me that we are due for an immediate possible rest (but anything can happen and one should never be surprised).
No comments:
Post a Comment