Merv’s Weekly Uranium Review
for week ending 11 September 2009
Merv’s Daily Uranium Index
Market Data for Friday 11 Sep 2009
Open: 174.52
Hugh: 179.18
Low: 169.97
Close: 172.33
Volume: 7771
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Note that additional charts of the Daily and Weekly Indices were posted earlier and should be viewed during this commentary.
That darn 180 barrier. It seems that early on during the Friday trading the Index was on its way to breaking the barrier BUT it no sooner hit the barrier then it came tumbling down. I guess that’s why it’s a barrier. Perseverance, that’s what we need. Hopefully this coming week will see the breach. Let’s keep our fingers crossed. This is now thirteen weeks below the barrier. Anyone out there superstitious?
Let’s get right to it. The Merv’s Daily Uranium Index closed the week on the down side after 6 days in a row on the up side. It was lower by 1.19 points or 0.69%. It was a stalemate as far as the breadth of the market was concerned. There were 20 winners, 20 losers and 10 stocks confused not knowing which way to go. As for those five largest stocks, we had one decent winner and the rest losers. Cameco lost 1.6% on the day, First Uranium was the winner with a gain of 7.9%, Paladin lost 2.3%, Uranium One lost 2.1% and Uranium Participation lost 1.5%. The best daily winner was Benton with a gain of 12.1% while the loser on the day was Ucore with a loss of 11.2%.
For the week as a whole, the Merv’s Weekly Uranium Index closed the week with a weekly gain of 235.62 points or 4.66%. There were 34 weekly winners, 15 weekly, 15 weekly losers and one lose lost sole wondering around confused. The five largest stocks were mixed on the week. Cameco gained 3.8% during the week, First Uranium gained 27.2%, Paladin gained 2.2%, Uranium One lost 6.4% and Uranium Participation lost 1.5%. The best weekly performer was Benton with a weekly gain of 30.0% while the worst weekly performer was a tie between Mawson and Rockgate Capital with each losing 11.0%.
From the long term perspective things have not changed in some time. We still have the Weekly and Daily Indices above their respective positive sloping long term moving average lines. We still have the Weekly momentum indicator in its positive zone while the Daily momentum indicator remains just below its neutral line in the negative zone. Both are moving above their positive trigger lines. The long term volume indicator is back just below its negative sloping trigger line after having breached the trigger to the up side for a couple of days. All in all, I would continue to rate the long term as BULLISH.
The sharp upside advance of the Daily Index was good for the intermediate term. The Index is above its just barely positive moving average line and the momentum indicator is in its positive zone above its positive trigger line. Unfortunately, as mentioned earlier, we still have that barrier, that resistance at the 180 level to be overcome. The past few upside Index days had caused the volume indicator to move above its intermediate term trigger line. Although the indicator turned down on Friday it is still above the trigger and the trigger has turned towards to up side. The intermediate term rating remains BULLISH at this time.
As for the short term, that is also all positive. The Daily Index remains above its positive sloping moving average line and the very short term moving average line remains above the short term line. Both are positive features for the short term. The momentum indicator remains in its positive zone above its positive trending trigger line. The daily volume action improved these past two days, unfortunately one day was on the up side and one on the down side. More trading is required before we can say the volume is a real plus. For the short term we remain BULLISH.
As for the immediate direction of least resistance, I will go with the down side. The Stochastic Oscillator seems to have peaked after being slightly inside its overbought zone. It has moved below its negative trigger line and seems to be heading lower. Can the Index be far behind?
for week ending 11 September 2009
Merv’s Daily Uranium Index
Market Data for Friday 11 Sep 2009
Open: 174.52
Hugh: 179.18
Low: 169.97
Close: 172.33
Volume: 7771
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Note that additional charts of the Daily and Weekly Indices were posted earlier and should be viewed during this commentary.
That darn 180 barrier. It seems that early on during the Friday trading the Index was on its way to breaking the barrier BUT it no sooner hit the barrier then it came tumbling down. I guess that’s why it’s a barrier. Perseverance, that’s what we need. Hopefully this coming week will see the breach. Let’s keep our fingers crossed. This is now thirteen weeks below the barrier. Anyone out there superstitious?
Let’s get right to it. The Merv’s Daily Uranium Index closed the week on the down side after 6 days in a row on the up side. It was lower by 1.19 points or 0.69%. It was a stalemate as far as the breadth of the market was concerned. There were 20 winners, 20 losers and 10 stocks confused not knowing which way to go. As for those five largest stocks, we had one decent winner and the rest losers. Cameco lost 1.6% on the day, First Uranium was the winner with a gain of 7.9%, Paladin lost 2.3%, Uranium One lost 2.1% and Uranium Participation lost 1.5%. The best daily winner was Benton with a gain of 12.1% while the loser on the day was Ucore with a loss of 11.2%.
For the week as a whole, the Merv’s Weekly Uranium Index closed the week with a weekly gain of 235.62 points or 4.66%. There were 34 weekly winners, 15 weekly, 15 weekly losers and one lose lost sole wondering around confused. The five largest stocks were mixed on the week. Cameco gained 3.8% during the week, First Uranium gained 27.2%, Paladin gained 2.2%, Uranium One lost 6.4% and Uranium Participation lost 1.5%. The best weekly performer was Benton with a weekly gain of 30.0% while the worst weekly performer was a tie between Mawson and Rockgate Capital with each losing 11.0%.
From the long term perspective things have not changed in some time. We still have the Weekly and Daily Indices above their respective positive sloping long term moving average lines. We still have the Weekly momentum indicator in its positive zone while the Daily momentum indicator remains just below its neutral line in the negative zone. Both are moving above their positive trigger lines. The long term volume indicator is back just below its negative sloping trigger line after having breached the trigger to the up side for a couple of days. All in all, I would continue to rate the long term as BULLISH.
The sharp upside advance of the Daily Index was good for the intermediate term. The Index is above its just barely positive moving average line and the momentum indicator is in its positive zone above its positive trigger line. Unfortunately, as mentioned earlier, we still have that barrier, that resistance at the 180 level to be overcome. The past few upside Index days had caused the volume indicator to move above its intermediate term trigger line. Although the indicator turned down on Friday it is still above the trigger and the trigger has turned towards to up side. The intermediate term rating remains BULLISH at this time.
As for the short term, that is also all positive. The Daily Index remains above its positive sloping moving average line and the very short term moving average line remains above the short term line. Both are positive features for the short term. The momentum indicator remains in its positive zone above its positive trending trigger line. The daily volume action improved these past two days, unfortunately one day was on the up side and one on the down side. More trading is required before we can say the volume is a real plus. For the short term we remain BULLISH.
As for the immediate direction of least resistance, I will go with the down side. The Stochastic Oscillator seems to have peaked after being slightly inside its overbought zone. It has moved below its negative trigger line and seems to be heading lower. Can the Index be far behind?
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