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.

13 October 2009

Merv's Daily Commentary 13 Oct 2009

After The Close, 13 Oct 2009

Merv’s Daily Uranium Index
Market Data

Open: 177.58
High: 182.69
Low: 173.47
Close: 178.81
Volume: 8236

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, I guess we can say that the Daily Index is still in its “box”. It poked a hole in the ceiling and peaked out to see what the sky was like but must have gotten frightened and dug back inside. Once more it is about to poke another hole. Now we have to wait and see what happens next. Nothing in the indicators is showing any great strength one way or the other so events are just going to happen and we’re just going to follow.

The Merv’s Daily Uranium Index closed higher by 2.77 points or 1.57%. The extra day of rest for the Canadian Turkey did nothing to strengthen the Index. There were 20 winners, 22 losers and 8 that were forgettable. No clear pattern of movement in the five largest stocks. Cameco lost 0.5%, First Uranium was forgettable, Paladin gained 0.9%, Uranium One lost 2.5% and Uranium Participation gained 2.3%. The best daily performer was Bayswater Uranium with a whopping 44.0% gain while the worst daily performer was Uracan Resources with a loss of 7.7%.

As mentioned on the week-end everything on the intermediate term is on the positive side so the rating remains BULLISH. The short term moving average line is now above the intermediate term line for confirmation.

The same is true for the short term. The short term remains BULLISH with the very short term moving average line above the short term line for confirmation.

As for the immediate direction of least resistance, here things are starting to get interesting. Although the Index remains above its positive very short term moving average line and the aggressive Stochastic Oscillator is deep in its positive zone there is a sign of a possible reaction ahead. The SO had been in its `overbought zone but now has dropped below the overbought line and below its trigger line. The trigger is still pointing upward but this could change with one more day. The Index itself, although closing on the up side has really not gone anywhere lately. The three day action suggests a short term top with possible lower values ahead. How low is anyone’s guess. I would be inclined to look for a rest period if not a short decline, possibly to about the 160 level.

1 comment:

Anonymous said...

Hmmmm interesting analysis today Merv. I am looking for a breakthrough tomorrow to the upside with spot having increased about 5% from the previous week.

It seems that it usually takes a couple days for the markets to react to the spot move.

I would love to the "SO's" current positioning in the charts mid week if possible.

I know, give em an inch and we ask for a mile.

Sorry, I suppose it would be nicer of me to just thank you as always for your info and analysis.

Best regards