After The Close, 19 Aug 2009
Merv’s Daily Uranium Index
Market Data
Open: 166.52
High: 172.42
Low: 163.66
Close: 169.47
Volume: 4279
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another minor down day, I’ll go with it being lateral and claim another good guess as to the direction of least resistance. Most readers know the candlestick charts. The red ones indicate the closing price was lower than the previous closing price while the green ones indicate a higher close. The other feature is the body of the candlestick. If the body is solid color then the close was lower than the open. If the body is open or not solid then that means the close was higher than the opening price. We see today a red candle (lower close versus yesterday) and an open body (the close being higher than the open). It looks like the day started down considerably but turned around during the day and closed somewhat higher than its opening price (but still lower than yesterday’s close). One can almost assume that with a continuing trend tomorrow should be an up day, at least initially.
The Merv’s Daily Uranium Index closed lower by 1.39 points or 0.81%. There were 15 winners, 25 losers and 10 just sitting there. The five largest stocks were mixed. Cameco gained 0.2%, First Uranium lost 7.9%, Paladin lost 0.5%, Uranium One gained 3.5% and Uranium Participation lost 0.8%. The best winner was Bayswater Uranium with a gain of 9.5% while the largest loser was Forsys Metals with a loss of 13.2%.
The third FAN trend line (shown) seems to really attract the Daily Index. During this whole month of August there was only one day when the daily Index action did not touch the line. I know you are probably wondering what this means. So am I.
Nothing has yet changed on the intermediate term. The Daily Index remains below its negative moving average line and the momentum indicator remains just above its neutral line in the positive zone. The momentum is, however, below its negative trigger line. The volume indicator remains in a lateral path but with a negative bias and below its negative trigger line. All in all, the intermediate term rating remains BEARISH. The short term moving average line is still a hair above the intermediate term line but it is too close to make anything off it.
The short term hasn’t changed either. The Index remains below the short term moving average line and the momentum indicator remains in its negative zone below its negative trigger line. The daily volume activity continues to be no great shakes. The short term rating is therefore still BEARISH.
As for the direction of least resistance, should I stick with the lateral as its done such good service these past couple of days? Nay, I think I’ll go with the up side as that’s the direction that looked to be in play at the end of the day.
Merv’s Daily Uranium Index
Market Data
Open: 166.52
High: 172.42
Low: 163.66
Close: 169.47
Volume: 4279
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another minor down day, I’ll go with it being lateral and claim another good guess as to the direction of least resistance. Most readers know the candlestick charts. The red ones indicate the closing price was lower than the previous closing price while the green ones indicate a higher close. The other feature is the body of the candlestick. If the body is solid color then the close was lower than the open. If the body is open or not solid then that means the close was higher than the opening price. We see today a red candle (lower close versus yesterday) and an open body (the close being higher than the open). It looks like the day started down considerably but turned around during the day and closed somewhat higher than its opening price (but still lower than yesterday’s close). One can almost assume that with a continuing trend tomorrow should be an up day, at least initially.
The Merv’s Daily Uranium Index closed lower by 1.39 points or 0.81%. There were 15 winners, 25 losers and 10 just sitting there. The five largest stocks were mixed. Cameco gained 0.2%, First Uranium lost 7.9%, Paladin lost 0.5%, Uranium One gained 3.5% and Uranium Participation lost 0.8%. The best winner was Bayswater Uranium with a gain of 9.5% while the largest loser was Forsys Metals with a loss of 13.2%.
The third FAN trend line (shown) seems to really attract the Daily Index. During this whole month of August there was only one day when the daily Index action did not touch the line. I know you are probably wondering what this means. So am I.
Nothing has yet changed on the intermediate term. The Daily Index remains below its negative moving average line and the momentum indicator remains just above its neutral line in the positive zone. The momentum is, however, below its negative trigger line. The volume indicator remains in a lateral path but with a negative bias and below its negative trigger line. All in all, the intermediate term rating remains BEARISH. The short term moving average line is still a hair above the intermediate term line but it is too close to make anything off it.
The short term hasn’t changed either. The Index remains below the short term moving average line and the momentum indicator remains in its negative zone below its negative trigger line. The daily volume activity continues to be no great shakes. The short term rating is therefore still BEARISH.
As for the direction of least resistance, should I stick with the lateral as its done such good service these past couple of days? Nay, I think I’ll go with the up side as that’s the direction that looked to be in play at the end of the day.
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