Uranium Companies

There are very few pure uranium companies. Most companies, especially the small exploration type, are active in more than the uranium industry. This blog makes no attempt to guage the percentage of a companies activity that are related to the finding, mining or processing of uraniun. They all do, however, have some uranium activities (to the best of our review).

Merv's Uranium Indices

I have developed two Uranium Indices. They each have the same component stocks but are calculated using different methodologies. My weekly Index is based upon the average weekly performance of the component stocks. My daily Index is based upon the daily average of the component stocks open, high, low and close prices along with the daily average volume of all component stocks.

Click on the chart or table to enlage the view.

30 July 2009

Merv's Daily Commentary 30 July 2009

After The Close, 30 July 2009

Merv’s Daily Uranium Index
Market Data

Open: 165.02
High: 170.50
Low: 162.96
Close: 167.13
Volume: 7653

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 minor up day in the Index but really nothing much has changed. We are still below a solid resistance level (red line) and inside the 2nd and 3rd FAN trend lines. I expect we will end the week in the same condition. I would say that the Index has held up pretty well seeing as how uranium moved $1.50 lower again this past week.

The Merv’s Daily Uranium Index closed up 2.46 points or 1.49%. There were 25 winners, 17 losers and 8 were noncommittal (is that the way to spell it?). Cameco closed up 1.9%, First uranium was up 4.6%, Paladin was up 0.7%. Uranium One was up 2.4% and USEC had another down day with a loss of 4.8%. It looks like it is going to test its Tuesday’s low. The best performer today was Wescan Goldfields with a gain of 13.9% (doesn’t it just seem like one day’s worst performer comes out as the best the next day?), while the worst performer was Benton with a loss of 10.8%.

The intermediate term momentum indicator, which yesterday just touched its negative zone, is once more in the positive zone. Other than that there was no change in the other indicators from the past few days. The intermediate term rating remains BEARISH.

Nothing has changed on the short term and therefore the rating remains BEARISH here also.

As for the immediate direction of least resistance, I should have just stayed with the lateral, which I am sticking with today.

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