After The Close, 19 May 2009
Merv’s Daily Uranium Index
Market Data
Open: 180.42
High: 186.71
Low: 176.09
Close: 182.81
Volume: 7918
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 was a reasonably good day for the uranium stocks although most of the up side may have been catch-up due to no Canadian market yesterday. It’s hard to tell right now if we are back into a sustained move or if this is just volatility within a rest period. Time, and the charts, will tell.
The Merv’s Daily Uranium Index closed higher by 7.82 points or 4.47%. There were 35 winners, 9 losers and 6 going nowhere. All in all, a good day. As for those five largest stocks, Cameco gained 4.3%, First Uranium gained 1.2%, Paladin gained 3.9%, Uranium One gained 4.8% and USEC gained 10.0%. The best winner on the day was Purepoint Uranium with a gain of 19.5% while the loser of the day was Uracan with a loss of 10.3%.
The intermediate term still has not changed. The Daily Index is comfortably above its positive moving average line and the momentum indicator remains in its positive zone. It also remains below its negative trigger line but only by a hair. The volume indicator remains in its lateral trend but still above its positive trigger line. The intermediate term rating remains BULLISH.
On the short term volatility is more noticeable. The Daily Index has just closed above its moving average line and the line slope has turned back to the up side. The momentum indicator remains in its positive zone and has moved just slightly above its trigger line. The trigger remains pointing downward. It looks like the daily volume activity may be picking up but it’s still early to confirm that. The short term rating is back to the BULLISH camp.
The Index has closed above its very short term moving average line and the line has turned upwards. The Stochastic Oscillator has also turned upwards and crossed above its trigger line but still remains in its negative zone. The immediate direction of least resistance should be to the up side but I’ll still go with the lateral.
Nuclear Industry ETFs
Merv’s Daily Uranium Index
Market Data
Open: 180.42
High: 186.71
Low: 176.09
Close: 182.81
Volume: 7918
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 was a reasonably good day for the uranium stocks although most of the up side may have been catch-up due to no Canadian market yesterday. It’s hard to tell right now if we are back into a sustained move or if this is just volatility within a rest period. Time, and the charts, will tell.
The Merv’s Daily Uranium Index closed higher by 7.82 points or 4.47%. There were 35 winners, 9 losers and 6 going nowhere. All in all, a good day. As for those five largest stocks, Cameco gained 4.3%, First Uranium gained 1.2%, Paladin gained 3.9%, Uranium One gained 4.8% and USEC gained 10.0%. The best winner on the day was Purepoint Uranium with a gain of 19.5% while the loser of the day was Uracan with a loss of 10.3%.
The intermediate term still has not changed. The Daily Index is comfortably above its positive moving average line and the momentum indicator remains in its positive zone. It also remains below its negative trigger line but only by a hair. The volume indicator remains in its lateral trend but still above its positive trigger line. The intermediate term rating remains BULLISH.
On the short term volatility is more noticeable. The Daily Index has just closed above its moving average line and the line slope has turned back to the up side. The momentum indicator remains in its positive zone and has moved just slightly above its trigger line. The trigger remains pointing downward. It looks like the daily volume activity may be picking up but it’s still early to confirm that. The short term rating is back to the BULLISH camp.
The Index has closed above its very short term moving average line and the line has turned upwards. The Stochastic Oscillator has also turned upwards and crossed above its trigger line but still remains in its negative zone. The immediate direction of least resistance should be to the up side but I’ll still go with the lateral.
Nuclear Industry ETFs
There seem to be at least three ETFs covering the nuclear industry, 2 traded in the USA and 1 in Europe. There might be more as I haven’t really done an extensive search for them. I hope to have some details on the USA traded ones tomorrow (Wed).
5 comments:
The FP had an article today which mentioned Nuclear/Uranium ETFs:
"There are a small handful of exchange-traded funds that track nuclear and uranium-related stocks: Market Vector Nuclear ETF, Barclays iShares Global Nuclear Energy and PowerShares Global Nuclear Energy. All three have been steadily climbing over the past two months."
http://www.theglobeandmail.com/servlet/story/LAC.20090519.RGIMAGBIGPICTUREART1845/TPStory/Business
What don't you mention MEGA or Pinetree? Pinetree was the biggest winnner yesterday, over 20% on an upgrade
Jeff,
Check your data or improve your maths.
Leon
David,
You had me confused there for a minute. I get the FP every morning and didn't see any article. However, I spotted the Globe and Mail as the article source in the http addresss.
See my post later this morning.
Jeff,
Leon is correct. I thought I'd better check my data to be sure I haven't missed anything. NOPE.
I think you were mixed up between a $0.25 daily advance versus a 13.9% daily advance. I use percentage differences as that puts all stocks on the same footing. Purepoint advanced 19.5% for the day's winner.
However, thanks for the comment. It is always good to know someone is actually following my commentaries and ensuring accuracy. It's in everyone's best interest that the final numbers and information is accurate.
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