After The Close, 26 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 146.87
High: 150.96
Low: 144.35
Close: 148.23
Volume: 5208
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
An up day but still not a break-away. If my mind wasn’t thinking that we are in a new bull market I would almost think that the action of the past few days was a topping action. I’d hate to think so as that might make this a double top pattern which would not be good. The volume action still suggests to me that we are in the early stages of a new bull. On the other hand uranium price was unchanged this week but at a new bear market low. It remains to be seen if it stays there or moves even lower. As always, let’s see what the charts and indicators are saying. That’s what really matters and not my hopes, dreams and wishes.
The Merv’s Daily Uranium Index closed higher by 3.02 points or 2.08%. There were 24 winners, 18 losers and 8 going nowhere. All of the top five stocks by market value were upside movers today. Cameco gained 3.5%, First Uranium gained 4.5%, Paladin gained 4.9%, Uranium One gained 0.7% and USEC gained 0.4%. The best performer on the day was Formation Capital with a gain of 23.1% while the loser on the day was Crosshair Exploration with a loss of 8.8%.
On the intermediate term everything remains just fine. The Index is above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The volume indicator remains way up there ahead of the crowd and above its positive trigger line. BULLISH is the only rating I can give the intermediate term.
On the short term the Index remains above its positive moving average line but the line is catching up to the Index pretty fast. Something’s gotta move here. The momentum indicator has turned to the up side again and is just a shade below its overbought line. It remains above its positive trigger line. As for the daily volume activity, over the past few days it has been okay but not really telling me anything. However, the rating still remains BULLISH.
As for the immediate direction of least resistance, that lateral direction has been the most accurate lately so I think I’ll stick with that.
Merv’s Daily Uranium Index
Market Data
Open: 146.87
High: 150.96
Low: 144.35
Close: 148.23
Volume: 5208
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
An up day but still not a break-away. If my mind wasn’t thinking that we are in a new bull market I would almost think that the action of the past few days was a topping action. I’d hate to think so as that might make this a double top pattern which would not be good. The volume action still suggests to me that we are in the early stages of a new bull. On the other hand uranium price was unchanged this week but at a new bear market low. It remains to be seen if it stays there or moves even lower. As always, let’s see what the charts and indicators are saying. That’s what really matters and not my hopes, dreams and wishes.
The Merv’s Daily Uranium Index closed higher by 3.02 points or 2.08%. There were 24 winners, 18 losers and 8 going nowhere. All of the top five stocks by market value were upside movers today. Cameco gained 3.5%, First Uranium gained 4.5%, Paladin gained 4.9%, Uranium One gained 0.7% and USEC gained 0.4%. The best performer on the day was Formation Capital with a gain of 23.1% while the loser on the day was Crosshair Exploration with a loss of 8.8%.
On the intermediate term everything remains just fine. The Index is above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The volume indicator remains way up there ahead of the crowd and above its positive trigger line. BULLISH is the only rating I can give the intermediate term.
On the short term the Index remains above its positive moving average line but the line is catching up to the Index pretty fast. Something’s gotta move here. The momentum indicator has turned to the up side again and is just a shade below its overbought line. It remains above its positive trigger line. As for the daily volume activity, over the past few days it has been okay but not really telling me anything. However, the rating still remains BULLISH.
As for the immediate direction of least resistance, that lateral direction has been the most accurate lately so I think I’ll stick with that.
2 comments:
Whew...Merv looks like a triple top, going back to late September, early October.
Hopefully we can get the equivilent break out to mirror that period of time.
We've been tortured for a long time, nothing wrong with hopes and dreams, you just shouldn't bet on it.
But it sure would be nice to jump on a move like that. I fondly remember the days.
Encouraging is the forthcoming crossing of the 15 and 65 DMAw with the 200 DMAw in the right upward direction, isn't it?
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