After The Close, 18 Aug 2009
Merv’s Daily Uranium Index
Market Data
Open: 170.11
High: 173.68
Low: 167.06
Close: 170.86
Volume: 3809
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
I guess it was the right guess going lateral for today. The Index closed slightly higher but on the chart it didn’t look like any motion at all. We now have all sorts of support and resistance levels to contend with. The new one is a support at the 166 level. This is a very short term support so it could get broken real easy. If it stays valid for a few more days it becomes more powerful.
The Merv’s Daily Uranium Index closed higher by 0.98 points or 0.58%. There were 20 winners, 20 losers and 10 sitting on the sidelines. The biggies were mixed with Cameco gaining 1.2%, First uranium losing 2.8%, Paladin gaining 4.5%, Uranium One losing 2.6% and Uranium Participation gaining 2.0%. The best winner of the day was Energy Fuels with a gain of 13.6% while the loser of the day was Mawson with a loss of 8.1%.
Without going into details nothing has changed from yesterday in the charts or indicators, so. Both the short and intermediate term continue to be rated as BEARISH.
As for the direction of least resistance, hell, I’m on a one day winning streak so I think I’ll keep it up. the lateral direction it is.
Merv’s Daily Uranium Index
Market Data
Open: 170.11
High: 173.68
Low: 167.06
Close: 170.86
Volume: 3809
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
I guess it was the right guess going lateral for today. The Index closed slightly higher but on the chart it didn’t look like any motion at all. We now have all sorts of support and resistance levels to contend with. The new one is a support at the 166 level. This is a very short term support so it could get broken real easy. If it stays valid for a few more days it becomes more powerful.
The Merv’s Daily Uranium Index closed higher by 0.98 points or 0.58%. There were 20 winners, 20 losers and 10 sitting on the sidelines. The biggies were mixed with Cameco gaining 1.2%, First uranium losing 2.8%, Paladin gaining 4.5%, Uranium One losing 2.6% and Uranium Participation gaining 2.0%. The best winner of the day was Energy Fuels with a gain of 13.6% while the loser of the day was Mawson with a loss of 8.1%.
Without going into details nothing has changed from yesterday in the charts or indicators, so. Both the short and intermediate term continue to be rated as BEARISH.
As for the direction of least resistance, hell, I’m on a one day winning streak so I think I’ll keep it up. the lateral direction it is.
2 comments:
Hey Merv, when I said I was waiting for the 13 to cross the 65 day, that isn't exactly the way I visualized it happening!
Oh well, I guess we wait and hope that the index remains stable as you suggest.
Good luck and thanks for the updates!
appreciate the work merv.....let us know when we get that aroon cross on the weekly...that'll be the signal..
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