After The Close, 07 Apr 2009
Merv’s Daily Uranium Index
Market Data
Open: 141.92
High: 144.70
Low: 138.14
Close: 141.32
Volume: 3907
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
We’re continuing on with that nibble, nibble activity in the Index. It’s worse than water torture. We went through three months of lateral activity last year. When the upside break came I thought we’d be up and running but the Index stalled and here we are, over three more months of a basic lateral trend. Is it time for another break-out?
The Merv’s Daily Uranium Index closed on the down side again by 1.73 points or 1.21%. There were 10 winners, 34 losers and 6 going nowhere. It was a bummer for all of the five largest stocks. Cameco lost 0.1%, First Uranium lost 0.9%, Paladin lost 1.2%, Uranium One lost 6.9% and USEC lost 3.1%. The best winner on the day was Quaterra with a gain of 15.4% while the loser of the day was Mawson with a loss of 14.3%.
Nothing new or changed in the intermediate term from yesterday so what I said yesterday applies. The intermediate term rating remains BULLISH.
The short term was down graded yesterday to a – neutral rating. Today it got downgraded again. The change being the turning down of the short term moving average line. Other indicators remained unchanged but with this moving average turning down the rating has now gone full BEARISH on the short term.
Merv’s Daily Uranium Index
Market Data
Open: 141.92
High: 144.70
Low: 138.14
Close: 141.32
Volume: 3907
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
We’re continuing on with that nibble, nibble activity in the Index. It’s worse than water torture. We went through three months of lateral activity last year. When the upside break came I thought we’d be up and running but the Index stalled and here we are, over three more months of a basic lateral trend. Is it time for another break-out?
The Merv’s Daily Uranium Index closed on the down side again by 1.73 points or 1.21%. There were 10 winners, 34 losers and 6 going nowhere. It was a bummer for all of the five largest stocks. Cameco lost 0.1%, First Uranium lost 0.9%, Paladin lost 1.2%, Uranium One lost 6.9% and USEC lost 3.1%. The best winner on the day was Quaterra with a gain of 15.4% while the loser of the day was Mawson with a loss of 14.3%.
Nothing new or changed in the intermediate term from yesterday so what I said yesterday applies. The intermediate term rating remains BULLISH.
The short term was down graded yesterday to a – neutral rating. Today it got downgraded again. The change being the turning down of the short term moving average line. Other indicators remained unchanged but with this moving average turning down the rating has now gone full BEARISH on the short term.
As for the immediate direction of least resistance, I will continue in the basic lateral direction for another day.
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