After The Close, 02 July 2009
Merv’s Daily Uranium Index
Market Data
Open: 171.81
High: 175.49
Low: 167.71
Close: 171.32
Volume: 2884
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
There was no Index yesterday as the Canadian Exchanges, where most of the component stocks are traded, was closed for the National Holiday. Today, the Index was down for the third day but as before, only by a small amount. These small declines could start to add up.
The Merv’s Daily Uranium Index closed lower by 1.08 points or 0.62%. There were 17 daily winners, 30 daily losers and 3 undecided. The five largest stocks were basically negative but as with the Index, only by a little. Cameco lost 0.9%, First Uranium lost 0.3%, Paladin lost 1.3%, Uranium One was the only winner of the five but only gained 0.8% and USEC lost 1.9%. The best winner was Xemplar Energy with a gain of 16.1% while the loser of the day was Bannerman with a loss of 10.0%.
There are some minor changes going on in the indicators. The daily Index continues its downward move below its negative sloping intermediate term moving average line. The momentum indicator is still in the positive zone but has moved below its negative sloping trigger line. The effects of the recent negative market moves are starting to show on the volume indicator. It is still positive but has moved below its positive sloping trigger line. All in all, the intermediate term is rated as NEUTRAL.
The Index closed below a negative sloping short term moving average line. The short term momentum indicator remains in its negative zone and has once more dropped below its trigger line. However, the trigger is still sloping upwards. The daily volume action remains very low, which is a normal occurrence during a down move. The short term rating remains BEARISH.
I’m sticking with the lateral as the direction of least resistance for now.
Merv’s Daily Uranium Index
Market Data
Open: 171.81
High: 175.49
Low: 167.71
Close: 171.32
Volume: 2884
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
There was no Index yesterday as the Canadian Exchanges, where most of the component stocks are traded, was closed for the National Holiday. Today, the Index was down for the third day but as before, only by a small amount. These small declines could start to add up.
The Merv’s Daily Uranium Index closed lower by 1.08 points or 0.62%. There were 17 daily winners, 30 daily losers and 3 undecided. The five largest stocks were basically negative but as with the Index, only by a little. Cameco lost 0.9%, First Uranium lost 0.3%, Paladin lost 1.3%, Uranium One was the only winner of the five but only gained 0.8% and USEC lost 1.9%. The best winner was Xemplar Energy with a gain of 16.1% while the loser of the day was Bannerman with a loss of 10.0%.
There are some minor changes going on in the indicators. The daily Index continues its downward move below its negative sloping intermediate term moving average line. The momentum indicator is still in the positive zone but has moved below its negative sloping trigger line. The effects of the recent negative market moves are starting to show on the volume indicator. It is still positive but has moved below its positive sloping trigger line. All in all, the intermediate term is rated as NEUTRAL.
The Index closed below a negative sloping short term moving average line. The short term momentum indicator remains in its negative zone and has once more dropped below its trigger line. However, the trigger is still sloping upwards. The daily volume action remains very low, which is a normal occurrence during a down move. The short term rating remains BEARISH.
I’m sticking with the lateral as the direction of least resistance for now.
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