After The Close, 08 June 2009
Merv’s Daily Uranium Index
Market Data
Open: 186.32
High: 189.26
Low: 180.02
Close: 186.21
Volume: 7327
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Despite the almost 10 point trading range of the Daily Index it ended the day just about where it started, going nowhere in particular. I guess this is what’s known as a lateral move. The Index remains at about the mid point of the box and it would take more than one day’s action, even a strong one, to get out of the box. We are looking at the Index remaining trapped in the box for another few days, at least. Now, having said that, watch that Index go streaming out of the box just to prove me wrong. I wouldn’t mind that as long as the direction was to the up side. What continues to give me hope that the next move will be to the up side is the continuing strength of the volume indicator. Speculators are not giving up on the uranium stocks.
The Merv’s Daily Uranium Index closed lower by 1.62 points or 0/86%. There were 14 winners, 30 losers and 6 sitting on the fence. As for those 5 largest stocks, one was a winner, the rest losers. Cameco lost 1.1%, First Uranium lost 2.9%, Paladin lost 1.7%, Uranium One, with all those pent up emotions, gained 9.3% and USEC lost 1.6%. The best winner on the day was Uranium Energy with a gain of 11.8%. The worst loser was Mawson with a loss of 12.3%.
The only change in the intermediate term indicators from the week-end is the momentum trigger line, which has now turned downward. This has not affected the rating and it remains BULLISH.
The same for the short term. With no changes in the indicators from the week-end the rating remains BULLISH.
The immediate direction of least resistance also remains unchanged, at a lateral direction.
Merv’s Daily Uranium Index
Market Data
Open: 186.32
High: 189.26
Low: 180.02
Close: 186.21
Volume: 7327
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Despite the almost 10 point trading range of the Daily Index it ended the day just about where it started, going nowhere in particular. I guess this is what’s known as a lateral move. The Index remains at about the mid point of the box and it would take more than one day’s action, even a strong one, to get out of the box. We are looking at the Index remaining trapped in the box for another few days, at least. Now, having said that, watch that Index go streaming out of the box just to prove me wrong. I wouldn’t mind that as long as the direction was to the up side. What continues to give me hope that the next move will be to the up side is the continuing strength of the volume indicator. Speculators are not giving up on the uranium stocks.
The Merv’s Daily Uranium Index closed lower by 1.62 points or 0/86%. There were 14 winners, 30 losers and 6 sitting on the fence. As for those 5 largest stocks, one was a winner, the rest losers. Cameco lost 1.1%, First Uranium lost 2.9%, Paladin lost 1.7%, Uranium One, with all those pent up emotions, gained 9.3% and USEC lost 1.6%. The best winner on the day was Uranium Energy with a gain of 11.8%. The worst loser was Mawson with a loss of 12.3%.
The only change in the intermediate term indicators from the week-end is the momentum trigger line, which has now turned downward. This has not affected the rating and it remains BULLISH.
The same for the short term. With no changes in the indicators from the week-end the rating remains BULLISH.
The immediate direction of least resistance also remains unchanged, at a lateral direction.
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