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.

08 September 2009

Merv's Daily Commentary 08 Sept 2009

After The Close, 08 Sep 2009

Merv’s Daily Uranium Index
Market Data

Open: 168.74
High: 174.04
Low: 164.09
Close: 169.51
Volume: 4982

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 up day in the market but the going is going to get tough over the next few days. The Index is now in a very strong resistance zone and it would take that move through the 180 level to overcome it. Yes, I know that there is still another resistance just above the 190 level but that one does not have the strength behind it that this one has. We are talking 3 months resistance as against 6 weeks. Still one would not discount the next one but I think once we are through the 180 level we can breath a sigh of relief.

The Merv’s Daily Uranium Index closed up 2.81 points or 1.68%. There were 23 winners, 21 losers and 6 just sitting doing nothing. Of those five largest stocks, once more we had a loser in the bunch. Cameco gained 5.2%, First Uranium gained 2.9%, Paladin gained 9.8%, Uranium One lost 1.2% and Uranium Participation was one of those sitting around doing nothing. The best winner today was Ucore Uranium with a gain of 24.3% while the loser on the day was Strateco with a loss of 9.4%.

We have the Index once more closing above its intermediate term moving average line but the line slope still remains in a downward direction. The momentum indicator is back in its positive zone and above its positive trigger line. The volume indicator has just nudged itself above its trigger line but the trigger is still in a downward slope. This all brings the intermediate term rating back to the BULLISH level.

On the short term things are a little stronger with the Index above its positive moving average line and the momentum back in its positive zone above its positive trigger line. The daily volume action could still be better but we’ll take what we can get. All in all, the short term rating is BULLISH.

As for the immediate direction of least resistance, I guess that should continue to be to the up side. However, I would not discount the fact that the trend from here may not be as easy as the previous few days and a lateral move may not be unexpected.

1 comment:

Anonymous said...

Man, been waiting awhile for that crossover. Whew, that was a sticky 10 days from the bottom.

Lets just hope that this crossover, has the same kind of action that occurred when it crossed in March.

The index moved up 50% on that cross, before topping at 195. A 50% move from here gets us pretty close to your 300 call Merv.

This is looking extremely bullish to me. Maybe we can get a little bump in spot next week to keep it going. Or maybe somebody already knows something which is driving the increased speculation.

What do you think?

Your loyal,