After The Close, 11 May 2009
Merv’s Daily Uranium Index
Market Data
Open: 182.42
High: 188.80
Low: 178.68
Close: 184.67
Volume: 6413
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 looks like we are really in a rest period. The Daily Index seems not to want to go higher but is resisting going lower. It started the day on the down side, then rallied above Friday’s close but then finished on the down side. Although lower on the day it did close above its opening price. The last time we had this kind of daily action was in early December, a week or so before the sharp upward move at year end. Hmmmm, I wonder if this means anything?
The Merv’s Daily Uranium Index closed on the down side by 1.29 points or 0.69%. There were 11 winners, 33 losers and 6 going nowhere. As for the five largest stocks, Cameco lost 0.2%, First Uranium lost 2.7%, Paladin lost 1.5%, Uranium One gained 4.6% and USEC lost 3.8%. The best winner was JNR Resources with a gain of 10.9% while the loser of the day was Tournigan Energy with a loss of 9.2%.
Other than the fact that the Index is getting closer and closer to dropping below its short term moving average line nothing has really changed from the week-end analysis. So, I’ll save time and just call both the intermediate and short term ratings as continuing BULLISH.
As for the immediate direction of least resistance, I’ll go with the lateral direction again.
Merv’s Daily Uranium Index
Market Data
Open: 182.42
High: 188.80
Low: 178.68
Close: 184.67
Volume: 6413
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 looks like we are really in a rest period. The Daily Index seems not to want to go higher but is resisting going lower. It started the day on the down side, then rallied above Friday’s close but then finished on the down side. Although lower on the day it did close above its opening price. The last time we had this kind of daily action was in early December, a week or so before the sharp upward move at year end. Hmmmm, I wonder if this means anything?
The Merv’s Daily Uranium Index closed on the down side by 1.29 points or 0.69%. There were 11 winners, 33 losers and 6 going nowhere. As for the five largest stocks, Cameco lost 0.2%, First Uranium lost 2.7%, Paladin lost 1.5%, Uranium One gained 4.6% and USEC lost 3.8%. The best winner was JNR Resources with a gain of 10.9% while the loser of the day was Tournigan Energy with a loss of 9.2%.
Other than the fact that the Index is getting closer and closer to dropping below its short term moving average line nothing has really changed from the week-end analysis. So, I’ll save time and just call both the intermediate and short term ratings as continuing BULLISH.
As for the immediate direction of least resistance, I’ll go with the lateral direction again.
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