Merv’s Weekly Uranium Review
for week ending 12 June 2009
Merv’s Daily Uranium Index
Market Data for Friday 12 June 2009
Open: 188.78
Hugh: 193.13
Low: 185.05
Close: 189.06
Volume: 5371
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
You would almost think the Daily Index would have no place to go if it were not for that box. On the other hand, with the box it’s still going nowhere fast. I’m waiting to see what effect that short term up trend line is going to have. It could become a support which causes the Index to move above the box or it could have no impact with the Index once again moving into the lower box levels. Since Oct the Index has spent most of its time in one box or another, with a week or so, here and there, on the move.
The Merv’s Daily Uranium Index closed on Friday down 1.42 points or 0.74%. There were 22 winners, 20 losers and 8 on the side lines. Of the five largest stocks three were up and two were down. Cameco lost 2.3%, First Uranium lost 2.3%, Paladin gained 0.9%, Uranium One gained 5.6% and USEC lost 2.3%. The best daily winner was Powertech Uranium with a gain of 12.0% while the loser on the day was Tournigan Energy with a loss of 6.9%.
For the week as a whole the Merv’s Weekly Uranium Index gained 126.90 points or 2.27%. There were 24 winners and 24 losers, the rest were on the side lines. As for the five largest stocks, Cameco gained 0.3%, First Uranium lost 5.9%, Paladin gained 2.4%, Uranium One gained 31.0% and USEC lost 2.6%. The best weekly mover was Uranium One with that 31.0% gain while the worst loser on the week was Purepoint uranium with a loss of 13.0%.
From the long term standpoint the Weekly Index continues on it trek slowly upwards. Looking back it still has a long way to go to get back to previous highs. Both the Daily and Weekly Indices are above their positive sloping moving average lines. The weekly momentum indicator is tracking a lateral path but remains in its positive zone while the daily indicator continues to butt its head up against the neutral line but still slightly below. The long term rating continues to be BULLISH.
As for the intermediate term, it just keeps moving sideways. The Daily Index remains above its positive moving average line but how long this will last is unknown. The line is now inside the box so the Index would break below the box if it remained in the box for much longer. The momentum indicator continues to move sideways above its neutral line but also remains right on top of its trigger line. The volume indicator, shown here today, continues to be the most encouraging indicator of potential future Index direction. It continues to make new all time highs and remains above its positive trigger line. All in all, the intermediate term rating continues to be BULLISH.
When a new move really starts we should notice it first here on the short term. For now the short term remains trapped in that box but above the short term trend line. Friday’s close remains above a positive sloping moving average line. The short term momentum indicator continues in its positive zone but not far above its neutral line. The daily volume activity is starting to show signs of frustration. Speculators want to see some kind of move to get going but they are the ones that make it happen. For now the short term rating remains BULLISH. With that box upper resistance and the up trend line merging something’s gotta give soon.
Unfortunately, I don’t see anything immediate that is moving the Index either way, at least not on Friday’s action. The immediate direction of least resistance continues to be to the lateral, for another day.
for week ending 12 June 2009
Merv’s Daily Uranium Index
Market Data for Friday 12 June 2009
Open: 188.78
Hugh: 193.13
Low: 185.05
Close: 189.06
Volume: 5371
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
You would almost think the Daily Index would have no place to go if it were not for that box. On the other hand, with the box it’s still going nowhere fast. I’m waiting to see what effect that short term up trend line is going to have. It could become a support which causes the Index to move above the box or it could have no impact with the Index once again moving into the lower box levels. Since Oct the Index has spent most of its time in one box or another, with a week or so, here and there, on the move.
The Merv’s Daily Uranium Index closed on Friday down 1.42 points or 0.74%. There were 22 winners, 20 losers and 8 on the side lines. Of the five largest stocks three were up and two were down. Cameco lost 2.3%, First Uranium lost 2.3%, Paladin gained 0.9%, Uranium One gained 5.6% and USEC lost 2.3%. The best daily winner was Powertech Uranium with a gain of 12.0% while the loser on the day was Tournigan Energy with a loss of 6.9%.
For the week as a whole the Merv’s Weekly Uranium Index gained 126.90 points or 2.27%. There were 24 winners and 24 losers, the rest were on the side lines. As for the five largest stocks, Cameco gained 0.3%, First Uranium lost 5.9%, Paladin gained 2.4%, Uranium One gained 31.0% and USEC lost 2.6%. The best weekly mover was Uranium One with that 31.0% gain while the worst loser on the week was Purepoint uranium with a loss of 13.0%.
From the long term standpoint the Weekly Index continues on it trek slowly upwards. Looking back it still has a long way to go to get back to previous highs. Both the Daily and Weekly Indices are above their positive sloping moving average lines. The weekly momentum indicator is tracking a lateral path but remains in its positive zone while the daily indicator continues to butt its head up against the neutral line but still slightly below. The long term rating continues to be BULLISH.
As for the intermediate term, it just keeps moving sideways. The Daily Index remains above its positive moving average line but how long this will last is unknown. The line is now inside the box so the Index would break below the box if it remained in the box for much longer. The momentum indicator continues to move sideways above its neutral line but also remains right on top of its trigger line. The volume indicator, shown here today, continues to be the most encouraging indicator of potential future Index direction. It continues to make new all time highs and remains above its positive trigger line. All in all, the intermediate term rating continues to be BULLISH.
When a new move really starts we should notice it first here on the short term. For now the short term remains trapped in that box but above the short term trend line. Friday’s close remains above a positive sloping moving average line. The short term momentum indicator continues in its positive zone but not far above its neutral line. The daily volume activity is starting to show signs of frustration. Speculators want to see some kind of move to get going but they are the ones that make it happen. For now the short term rating remains BULLISH. With that box upper resistance and the up trend line merging something’s gotta give soon.
Unfortunately, I don’t see anything immediate that is moving the Index either way, at least not on Friday’s action. The immediate direction of least resistance continues to be to the lateral, for another day.
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