After The Close, 24 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 145.88
High: 149.61
Low: 141.46
Close: 145.79
Volume: 5615
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, a down day after six in a row on the up side, just as in previous occasions. Will we now go into a decline as we did before? I would hope not but we may still be in for some minor downside if not just a lateral move.
The Merv’s Daily Uranium Index closed lower by 2.12 points or 1.43%. There were only nine winners on the day, 28 losers and 13 not able to make up their mind which way they want to go. As for those five largest stocks, they didn’t know which way to go either. Cameco lost 1.0%, First Uranium gained 0.3%, Paladin lost 5.9%, Uranium One gained 9.6% and USEC lost 5.5%. The best winner on the day was Uranium One with that 9.6% gain while the loser on the day was Titan Uranium with a loss of 11.3%.
Things are going along just fine on the intermediate term with nothing changing with today’s action. The Index remains above its positive sloping moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The volume indicator continues to plug right along way out ahead of the pack. The intermediate term rating remains BULLISH.
On the short term nothing much has happened. The Index remains above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The momentum has moved into its overbought zone and reversed back below the overbought line. This is usually a warning that the trend is changing but I like to wait for the trigger line to be breached, and more importantly, reversed in direction. The daily volume action had improved lately but seems to be slimming down as the Index appears to be topping. Still, the short term rating remains BULLISH.
On the very short term or immediate direction of least resistance the important consideration here is the move by the Stochastic Oscillator (SO) into its overbought zone. It is flattening out but not yet reversed direction. It remains above its trigger line but should drop below its trigger on another down day. For today I will go with the lateral as the best option for the next move, although the down side is getting stronger.
Merv’s Daily Uranium Index
Market Data
Open: 145.88
High: 149.61
Low: 141.46
Close: 145.79
Volume: 5615
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, a down day after six in a row on the up side, just as in previous occasions. Will we now go into a decline as we did before? I would hope not but we may still be in for some minor downside if not just a lateral move.
The Merv’s Daily Uranium Index closed lower by 2.12 points or 1.43%. There were only nine winners on the day, 28 losers and 13 not able to make up their mind which way they want to go. As for those five largest stocks, they didn’t know which way to go either. Cameco lost 1.0%, First Uranium gained 0.3%, Paladin lost 5.9%, Uranium One gained 9.6% and USEC lost 5.5%. The best winner on the day was Uranium One with that 9.6% gain while the loser on the day was Titan Uranium with a loss of 11.3%.
Things are going along just fine on the intermediate term with nothing changing with today’s action. The Index remains above its positive sloping moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The volume indicator continues to plug right along way out ahead of the pack. The intermediate term rating remains BULLISH.
On the short term nothing much has happened. The Index remains above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The momentum has moved into its overbought zone and reversed back below the overbought line. This is usually a warning that the trend is changing but I like to wait for the trigger line to be breached, and more importantly, reversed in direction. The daily volume action had improved lately but seems to be slimming down as the Index appears to be topping. Still, the short term rating remains BULLISH.
On the very short term or immediate direction of least resistance the important consideration here is the move by the Stochastic Oscillator (SO) into its overbought zone. It is flattening out but not yet reversed direction. It remains above its trigger line but should drop below its trigger on another down day. For today I will go with the lateral as the best option for the next move, although the down side is getting stronger.
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