After The Close, 16 Apr 2009
Merv’s Daily Uranium Index
Market Data
Open: 151.12
High: 155.05
Low: 146.23
Close: 151.12
Volume: 8177
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
I wonder if the very small up tick in the price of uranium is just getting noticed. It was up $0.50 this week. If I am correct that is the first up tick in the uranium price for quite some time. Ah, but we’re technicians, let’s not ponder this fundamental stuff too long.
Another small up tick in the Daily Index. However, once again there is a battle going on during the day between the believers and non-believers. Despite the up tick in the Index, it once more closed below its opening price so the battle during the day was very minimally gone to the down side. Looking at the chart we see that the Index is moving very gradually upward. Still no real dramatic break-out but the movement is in the right direction. And once again the volume indicator has hit new all time highs. The trading volume seems to be positive despite the questionable daily Index activity.
The Merv’s Daily Uranium Index was up at the close by 1.05 points or 0.70%. There were 22 winners, 19 losers and 9 going nowhere. As for those five largest stocks, they were mixed. Cameco gained 1.2%, First Uranium lost 2.2%, Paladin gained 7.7%, Uranium One lost 0.7% and USEC lost 1.9%. The best winner on the day was Tournigan with a gain of 32.0% while the loser on the day was Quaterra with a loss of 15.9%.
The intermediate term continues to maintain a positive attitude. The Index is above its positive sloping moving average line and the momentum indicator remains in its positive zone above its positive trigger line. As mentioned above, the volume indicator has hit new all time highs and remains above its positive intermediate term trigger line. BULLISH is the only rating I can give here.
On the short term everything also remains positive. The Index is above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The strength of the short term momentum indicator is not, however, as strong as I would like to see. This needs to be watched in case this weakness continues. As for the daily volume action, well here things seem to be improving, at least in the past couple of days. Today’s volume was showing a little more activity than we have had recently, and it was on the up side. The short term rating remains BULLISH.
As for the immediate direction of least resistance, I am going back to the lateral direction. Although the price move seems to be towards the up side the aggressive Stochastic Oscillator has turned downward and has crossed its trigger line. The trigger is still pointing upward but it seems that the indicator is seeing weakness in the recent price action even though such action is towards the up side. Not yet time to go gung-ho bullish with your capital although that requires an individual stock look. I know, I said I’ll try and have a few individual stocks for you during the week but some things don’t work out as planned. It’s still on my schedule but it now looks more like next week.
Merv’s Daily Uranium Index
Market Data
Open: 151.12
High: 155.05
Low: 146.23
Close: 151.12
Volume: 8177
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
I wonder if the very small up tick in the price of uranium is just getting noticed. It was up $0.50 this week. If I am correct that is the first up tick in the uranium price for quite some time. Ah, but we’re technicians, let’s not ponder this fundamental stuff too long.
Another small up tick in the Daily Index. However, once again there is a battle going on during the day between the believers and non-believers. Despite the up tick in the Index, it once more closed below its opening price so the battle during the day was very minimally gone to the down side. Looking at the chart we see that the Index is moving very gradually upward. Still no real dramatic break-out but the movement is in the right direction. And once again the volume indicator has hit new all time highs. The trading volume seems to be positive despite the questionable daily Index activity.
The Merv’s Daily Uranium Index was up at the close by 1.05 points or 0.70%. There were 22 winners, 19 losers and 9 going nowhere. As for those five largest stocks, they were mixed. Cameco gained 1.2%, First Uranium lost 2.2%, Paladin gained 7.7%, Uranium One lost 0.7% and USEC lost 1.9%. The best winner on the day was Tournigan with a gain of 32.0% while the loser on the day was Quaterra with a loss of 15.9%.
The intermediate term continues to maintain a positive attitude. The Index is above its positive sloping moving average line and the momentum indicator remains in its positive zone above its positive trigger line. As mentioned above, the volume indicator has hit new all time highs and remains above its positive intermediate term trigger line. BULLISH is the only rating I can give here.
On the short term everything also remains positive. The Index is above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The strength of the short term momentum indicator is not, however, as strong as I would like to see. This needs to be watched in case this weakness continues. As for the daily volume action, well here things seem to be improving, at least in the past couple of days. Today’s volume was showing a little more activity than we have had recently, and it was on the up side. The short term rating remains BULLISH.
As for the immediate direction of least resistance, I am going back to the lateral direction. Although the price move seems to be towards the up side the aggressive Stochastic Oscillator has turned downward and has crossed its trigger line. The trigger is still pointing upward but it seems that the indicator is seeing weakness in the recent price action even though such action is towards the up side. Not yet time to go gung-ho bullish with your capital although that requires an individual stock look. I know, I said I’ll try and have a few individual stocks for you during the week but some things don’t work out as planned. It’s still on my schedule but it now looks more like next week.
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