Merv’s Weekly Uranium Review
for week ending 03 April 2009
Merv’s Daily Uranium Index
Market Data for Friday 03 Apr 2009
Open: 146.68
Hugh: 148.44
Low: 140.14
Close: 144.19
Volume: 4176
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, another week has passed and we’re no better off than we were last week. The Indices are barely changed from last week although they are a very little higher. The Weekly Index can be seen to be setting itself up for a move. It has been in a lateral phase since the beginning of the year. It’s gotta move sooner or later, it can’t just keep moving sideways. The same sideways move can be seen in the Daily Index. Still the one real positive in the market action has been and remains the volume indicator. It almost reached a new all time high this past week but was just shy by a very small amount. As of today, it would not take more than one good upside volume day and it will be back at all time highs again.
The Merv’s Daily Uranium Index closed on Friday on the down side by 2.27 points or 1.55%. There were 16 daily winners, 26 daily losers and 8 going nowhere. Of the five largest stocks by market value, Cameco lost 2.3%, First Uranium lost 0.2%, Paladin went nowhere, Uranium One lost 2.2% and USEC gained 0.2%. The best daily winner was Energy Fuels with a gain of 15.4% while the worst daily loser was Aurora Energy with a loss of 13.0%.
On the week as a whole the Merv’s Weekly Uranium Index was up 74.43 points or 2.01%. There were 23 weekly winners, 25 weekly losers and 2 going nowhere. Those five largest stocks were mixed on the week. Cameco lost 0.2% on the week, First Uranium lost 1.5%, Paladin gained 9.0%, Uranium One lost 1.8% and USEC gained 9.9%. The best weekly winner was Energy Fuels with a weekly gain of 50.0% while the worst weekly loser was Quaterra with a loss of 29.3%.
As for where we are, ratings wise, we first go to the Weekly Index. There we see that the Index continues to trade above its long term moving average line but the line is still sloping downwards. The same is true if we go to the Daily Index. The long term momentum indicator remains in its negative zone although it is moving upwards and is above its positive trigger line. On the Daily chart the volume indicator remains in a positive trend well above its positive sloping trigger line. At this time the best long term rating I can give the uranium stocks is a + NEUTRAL rating, one level below a full bullish rating.
On the intermediate term nothing much has changed over the past few days except for the whip-saws in the momentum indicator. The Daily Index remains above its positive moving average line and the momentum indicator remains just above its neutral line in the positive zone. The indicator has been moving above and below its trigger line recently and has once more dropped below the trigger. The trigger line has, however, remained sloping positively. The volume indicator remains the brightest indicator and continues to move higher above its positive trigger line. All in all, the intermediate term rating remains BULLISH.
On the short term we have a similar situation to the intermediate term. The Index remains above a positive sloping short term moving average line, but not too far above. The momentum indicator remains in its positive zone but heading lower and is below its negative sloping trigger line. As for the daily volume action, it is not any great shakes. The daily volume is neither positive nor negative but about normal when the Index can’t make up its mind which way it wants to go. Today, the Index is still rated as BULLISH on the short term.
for week ending 03 April 2009
Merv’s Daily Uranium Index
Market Data for Friday 03 Apr 2009
Open: 146.68
Hugh: 148.44
Low: 140.14
Close: 144.19
Volume: 4176
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, another week has passed and we’re no better off than we were last week. The Indices are barely changed from last week although they are a very little higher. The Weekly Index can be seen to be setting itself up for a move. It has been in a lateral phase since the beginning of the year. It’s gotta move sooner or later, it can’t just keep moving sideways. The same sideways move can be seen in the Daily Index. Still the one real positive in the market action has been and remains the volume indicator. It almost reached a new all time high this past week but was just shy by a very small amount. As of today, it would not take more than one good upside volume day and it will be back at all time highs again.
The Merv’s Daily Uranium Index closed on Friday on the down side by 2.27 points or 1.55%. There were 16 daily winners, 26 daily losers and 8 going nowhere. Of the five largest stocks by market value, Cameco lost 2.3%, First Uranium lost 0.2%, Paladin went nowhere, Uranium One lost 2.2% and USEC gained 0.2%. The best daily winner was Energy Fuels with a gain of 15.4% while the worst daily loser was Aurora Energy with a loss of 13.0%.
On the week as a whole the Merv’s Weekly Uranium Index was up 74.43 points or 2.01%. There were 23 weekly winners, 25 weekly losers and 2 going nowhere. Those five largest stocks were mixed on the week. Cameco lost 0.2% on the week, First Uranium lost 1.5%, Paladin gained 9.0%, Uranium One lost 1.8% and USEC gained 9.9%. The best weekly winner was Energy Fuels with a weekly gain of 50.0% while the worst weekly loser was Quaterra with a loss of 29.3%.
As for where we are, ratings wise, we first go to the Weekly Index. There we see that the Index continues to trade above its long term moving average line but the line is still sloping downwards. The same is true if we go to the Daily Index. The long term momentum indicator remains in its negative zone although it is moving upwards and is above its positive trigger line. On the Daily chart the volume indicator remains in a positive trend well above its positive sloping trigger line. At this time the best long term rating I can give the uranium stocks is a + NEUTRAL rating, one level below a full bullish rating.
On the intermediate term nothing much has changed over the past few days except for the whip-saws in the momentum indicator. The Daily Index remains above its positive moving average line and the momentum indicator remains just above its neutral line in the positive zone. The indicator has been moving above and below its trigger line recently and has once more dropped below the trigger. The trigger line has, however, remained sloping positively. The volume indicator remains the brightest indicator and continues to move higher above its positive trigger line. All in all, the intermediate term rating remains BULLISH.
On the short term we have a similar situation to the intermediate term. The Index remains above a positive sloping short term moving average line, but not too far above. The momentum indicator remains in its positive zone but heading lower and is below its negative sloping trigger line. As for the daily volume action, it is not any great shakes. The daily volume is neither positive nor negative but about normal when the Index can’t make up its mind which way it wants to go. Today, the Index is still rated as BULLISH on the short term.
As for that immediate direction of least resistance, that would remain in the lateral direction. There is nothing yet in the daily Index activity to move over into the up or down classification. By lateral I don’t mean that the Index is expected to move sideways with no up or down days but I expect it to move in a general sideways direction without a run-away upside or downside action.
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