After The Close, 13 Apr 2009
Merv’s Daily Uranium Index
Market Data
Open: 144.79
High: 151.34
Low: 142.73
Close: 149.78
Volume: 4537
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
It’s starting to look real interesting. The intermediate term momentum indicator has now moved into its highest level since the start of this recovery. That means that the latest Index moves are the strongest they have been over any recent 50 day period. And it is getting stronger. Can the Index be far behind? It is just a wee little bit under its recent highs and not that far below its Jan high.
The long term moving average line is still moving lower but its slope is getting more and more in the horizontal direction as a precursor to a turn upwards. It could still be this week.
The Merv’s Daily Uranium Index closed on the up side by 3.71 points or 2.54%. There were 28 winners, 12 losers and 10 going nowhere. Still too many going nowhere but it may still be a continuation of the holidays. As for those five largest stocks, they were all on the up side. Cameco gained 1.7%, First Uranium gained 2.4%, Paladin gained 1.9%, Uranium One gained 3.4% and USEC gained 0.7%. The best winner on the day was Tournigan with a gain of 15.6% while the loser on the day was Titan Uranium with a loss of 9.4%. It may be my imagination but the losers seem to be getting lower and lower in the % range.
As mentioned above, the momentum indicator is at new high levels since the recovery and is above its positive trigger line. The Index continues to move higher above its positive trigger line and the volume indicator is just a very minor amount below an all time high, above its positive trigger line. The intermediate term rating remains BULLISH.
As for the short term everything looks rosy. The Index remains above its positive moving average line. The momentum indicator remains in its positive zone above its positive sloping trigger line. The short term momentum indicator, an indication of the strength the Index move over the past 15 days, is not quite as strong as the intermediate term momentum in that it is still some distance from its previous high since the start of the recovery but is moving higher which is good. The daily volume action is still low but should start to improve once the holiday effect is over. For the short term the rating remains BULLISH.
As for the direction of least resistance, well that has now shift over to the up side. Tomorrow should confirm that the direction of motion has now decidedly shifted over to the up side. I hope I’m not disappointed.
Merv’s Daily Uranium Index
Market Data
Open: 144.79
High: 151.34
Low: 142.73
Close: 149.78
Volume: 4537
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
It’s starting to look real interesting. The intermediate term momentum indicator has now moved into its highest level since the start of this recovery. That means that the latest Index moves are the strongest they have been over any recent 50 day period. And it is getting stronger. Can the Index be far behind? It is just a wee little bit under its recent highs and not that far below its Jan high.
The long term moving average line is still moving lower but its slope is getting more and more in the horizontal direction as a precursor to a turn upwards. It could still be this week.
The Merv’s Daily Uranium Index closed on the up side by 3.71 points or 2.54%. There were 28 winners, 12 losers and 10 going nowhere. Still too many going nowhere but it may still be a continuation of the holidays. As for those five largest stocks, they were all on the up side. Cameco gained 1.7%, First Uranium gained 2.4%, Paladin gained 1.9%, Uranium One gained 3.4% and USEC gained 0.7%. The best winner on the day was Tournigan with a gain of 15.6% while the loser on the day was Titan Uranium with a loss of 9.4%. It may be my imagination but the losers seem to be getting lower and lower in the % range.
As mentioned above, the momentum indicator is at new high levels since the recovery and is above its positive trigger line. The Index continues to move higher above its positive trigger line and the volume indicator is just a very minor amount below an all time high, above its positive trigger line. The intermediate term rating remains BULLISH.
As for the short term everything looks rosy. The Index remains above its positive moving average line. The momentum indicator remains in its positive zone above its positive sloping trigger line. The short term momentum indicator, an indication of the strength the Index move over the past 15 days, is not quite as strong as the intermediate term momentum in that it is still some distance from its previous high since the start of the recovery but is moving higher which is good. The daily volume action is still low but should start to improve once the holiday effect is over. For the short term the rating remains BULLISH.
As for the direction of least resistance, well that has now shift over to the up side. Tomorrow should confirm that the direction of motion has now decidedly shifted over to the up side. I hope I’m not disappointed.
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