After The Close, 16 June 2009
Merv’s Daily Uranium Index
Market Data
Open: 182.97
High: 186.41
Low: 174.78
Close: 177.23
Volume: 6915
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another day and another downer, but still in the box. The Daily Index seems to be bouncing off its intermediate term moving average line. Another bounce like the last two and one might take the average as a good support level, but I’ll wait for it.
The Merv’s Daily Uranium Index closed lower by 4.19 points or 2.31%. There were 12 winners, 32 losers and 6 going nowhere. A little better than yesterday but not by much. As for those five largest stocks, all were bummers. Cameco lost 1.0%, First Uranium lost 4.0%, Paladin lost 4.9%, Uranium One lost 4.8% and USEC lost 6.2%. The best winner was RPT Uranium with a gain of 26.5% while the worst loser was Bannerman with a loss of 13.0%.
On the intermediate term nothing has changed from yesterday. The Index remains just above its positive sloping moving average line while the momentum indicator remains in its positive zone moving lower fast and is below its negative trigger line. The volume indicator is moving lower but remains above its positive trigger line. The intermediate term rating remains BULLISH.
As for the short term, well things broke down yesterday. The Index remains below its negative sloping moving average line. For confirmation of the short term trend the very short term moving average line has now moved below the short term line. The momentum indicator continues to move lower inside its negative zone and below its negative trigger line. As for the daily volume, on the down side days I’d sure like to see it a little lower than its recent daily action. The short term remains BEARISH.
As for the direction of least resistance, I’ll go with the lateral again for no other reason than sooner or later I’ll be right, just like a broken watch is right at least twice a day.
Merv’s Daily Uranium Index
Market Data
Open: 182.97
High: 186.41
Low: 174.78
Close: 177.23
Volume: 6915
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another day and another downer, but still in the box. The Daily Index seems to be bouncing off its intermediate term moving average line. Another bounce like the last two and one might take the average as a good support level, but I’ll wait for it.
The Merv’s Daily Uranium Index closed lower by 4.19 points or 2.31%. There were 12 winners, 32 losers and 6 going nowhere. A little better than yesterday but not by much. As for those five largest stocks, all were bummers. Cameco lost 1.0%, First Uranium lost 4.0%, Paladin lost 4.9%, Uranium One lost 4.8% and USEC lost 6.2%. The best winner was RPT Uranium with a gain of 26.5% while the worst loser was Bannerman with a loss of 13.0%.
On the intermediate term nothing has changed from yesterday. The Index remains just above its positive sloping moving average line while the momentum indicator remains in its positive zone moving lower fast and is below its negative trigger line. The volume indicator is moving lower but remains above its positive trigger line. The intermediate term rating remains BULLISH.
As for the short term, well things broke down yesterday. The Index remains below its negative sloping moving average line. For confirmation of the short term trend the very short term moving average line has now moved below the short term line. The momentum indicator continues to move lower inside its negative zone and below its negative trigger line. As for the daily volume, on the down side days I’d sure like to see it a little lower than its recent daily action. The short term remains BEARISH.
As for the direction of least resistance, I’ll go with the lateral again for no other reason than sooner or later I’ll be right, just like a broken watch is right at least twice a day.
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