Merv’s Daily Uranium Index
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Well, the Daily Index was up but one would not notice it. It is still inside that FAN but only barely. With uranium down another $0.50 I guess we can’t expect much help from that angle.
The Merv’s Daily Uranium Index closed higher by 0.84 points or 0.50%. There were 18 winners, 22 losers and 10 going nowhere. One of the top five was a reasonable winner while the rest were losers. Cameco lost 1.3%, First Uranium lost 1.4%, Paladin was the gainer with a win of 4.6%, Uranium one lost 2.1% and USEC lost 0.9%. The best winner of the day was Wescan Goldfields with a gain of 31.6% just beading out East Asia which had a 30.3% gain. The worst loser was Purepoint Uranium (wasn’t that a winner yesterday?) with a loss of 15.6%.
Nothing has changed in the short or intermediate term indicators so I’ll cut to the chase and say that the ratings for both remain BEARISH.
With the Stochastic Oscillator plunging and the Index below its very short term moving average line one would go with the down side as the direction of least resistance. However, I continue to go with the lateral as the Index doesn’t seem to be in any mood to go lower or higher.