After The Close, 31 Mar 2009
Merv’s Daily Uranium Index
Market Data
Open: 141.89
High: 146.24
Low: 136.95
Close: 140.89
Volume: 5168
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
The Daily Index seems to be holding its own but that’s not what we want. We want to see it zooming into the wild blue yonder. For over a month the Index was moving sideways within an area from about 131 to 145. It’s back in that area again. Let’s hope it doesn’t take another month to get out. Uranium moved another $0.50 lower this week into a new bear market low price. That can’t be all good. It may be time to be sure one has his exit strategy in place, just in case.
The Merv’s Daily Uranium Index closed the day with a huge gain of 0.09 points or 0.07%. At least the winners were a little more aggressive. There were 26 of them versus 14 losers and 10 stocks going nowhere. With 20% of the stocks going nowhere that is a good indication that the speculators still can’t make up their minds where the stocks are going to go. Most of the five largest stocks were on the up side with Cameco gaining 0.8%, First Uranium gaining 2.8%, Paladin gaining 4.1% Uranium One losing 1.9% and USEC gaining 1.5%. The best winner was Titan Uranium with a 24.4% gain while the worst loser was Forsys Metals with a loss of 17.4%.
Everything is still holding on to the bullish side on the intermediate term. The Index is still above its positive moving average line and the momentum indicator is still in its positive zone, although just barely. It is now below its trigger line although the trigger is still sloping upwards. The volume indicator is still very positive above its positive sloping trigger line. Everything still says BULLISH for the intermediate term.
The closing price of the Index is just slithering on top of its positive sloping short term moving average line. It traded below the line but closed right on top, no additional room for downside maneuvering. The momentum indicator remains in its positive zone but is below its negative sloping trigger line. The daily volume action is as one expects, slightly higher on up days and slightly lower on down days, with a few exceptions. Nothing out of the ordinary. All in all, the short term remains BULLISH for at least another day.
The very short term indicators all seem to point in a downward direction with the Stochastic Oscillator in its negative zone and moving lower fast and the Index below its already negative sloping very short term moving average line. The very short term average is still above its short term one so we do not have a confirmation yet of any short term change of trend. I will remain with my lateral direction as the direction of least resistance. It has done good service over the months.
Merv’s Daily Uranium Index
Market Data
Open: 141.89
High: 146.24
Low: 136.95
Close: 140.89
Volume: 5168
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
The Daily Index seems to be holding its own but that’s not what we want. We want to see it zooming into the wild blue yonder. For over a month the Index was moving sideways within an area from about 131 to 145. It’s back in that area again. Let’s hope it doesn’t take another month to get out. Uranium moved another $0.50 lower this week into a new bear market low price. That can’t be all good. It may be time to be sure one has his exit strategy in place, just in case.
The Merv’s Daily Uranium Index closed the day with a huge gain of 0.09 points or 0.07%. At least the winners were a little more aggressive. There were 26 of them versus 14 losers and 10 stocks going nowhere. With 20% of the stocks going nowhere that is a good indication that the speculators still can’t make up their minds where the stocks are going to go. Most of the five largest stocks were on the up side with Cameco gaining 0.8%, First Uranium gaining 2.8%, Paladin gaining 4.1% Uranium One losing 1.9% and USEC gaining 1.5%. The best winner was Titan Uranium with a 24.4% gain while the worst loser was Forsys Metals with a loss of 17.4%.
Everything is still holding on to the bullish side on the intermediate term. The Index is still above its positive moving average line and the momentum indicator is still in its positive zone, although just barely. It is now below its trigger line although the trigger is still sloping upwards. The volume indicator is still very positive above its positive sloping trigger line. Everything still says BULLISH for the intermediate term.
The closing price of the Index is just slithering on top of its positive sloping short term moving average line. It traded below the line but closed right on top, no additional room for downside maneuvering. The momentum indicator remains in its positive zone but is below its negative sloping trigger line. The daily volume action is as one expects, slightly higher on up days and slightly lower on down days, with a few exceptions. Nothing out of the ordinary. All in all, the short term remains BULLISH for at least another day.
The very short term indicators all seem to point in a downward direction with the Stochastic Oscillator in its negative zone and moving lower fast and the Index below its already negative sloping very short term moving average line. The very short term average is still above its short term one so we do not have a confirmation yet of any short term change of trend. I will remain with my lateral direction as the direction of least resistance. It has done good service over the months.
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