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.

21 October 2009

Merv's Daily Commentary 21 Oct 2009

After The Close, 21 Oct 2009

Merv’s Daily Uranium Index
Market Data

Open: 188.71
High: 194.46
Low: 185.51
Close: 188.68
Volume: 8432

Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.

The rest period is upon us. I hope it is a rest and not the start of some major correction. For now, it should stay within the up trending channel but most likely it will end somewhere around the 175 area. There is nothing serious yet to contend with.

The revision to the Index was made today so it is reflecting the new component stocks. There was a deletion of 5 stocks and an addition of 5 stocks. Most of the deletions were due to inactivity on the part of the stocks. Bannerman is a good example. It has had limited activity and on too many days no activity at all. Unfortunately, I use North American trading. It probably is a very active trader on the Australian Exchange but I do not get that data. The other significant deletion was US Energy, which I mentioned a few days back.

One of the additions today was an Exchange Traded Fund, the Market Vectors Nuclear Energy ETF. I have thought this over for some time and finally thought I should have at least one ETF in the list for interested investors to follow. In addition, its component stocks include many foreign stocks and industry stocks that are not part of the mining stocks that make up the rest of the Merv’s Index.

The Merv’s Daily Uranium Index closed lower by 1.13 points or 0.60%. There were 21 winners, 27 losers and only 2 confused stocks going nowhere. The five largest stocks were mixed today. Cameco gained 0.6%, First Uranium lost 4.1%, Paladin lost 6.9%, Uranium One lost 1.2% and Uranium Participation gained 2.7%. The Market Vectors ETF closed lower by 0.04%. The best performer on the day was Powertech with a gain of 13.4% while the worst performer was Xemplar Energy with a loss of 8.9%.

The only thing that has changed in the indicators is in the short term momentum. It has moved below the overbought line but buy very little. It is still above its positive trigger line. ASll in all, the indicators have not changed and the intermediate and short term ratings remain BULLISH.

As for the immediate direction of least resistance, I would say that is to the lateral. The SO has now gone into a lateral drift but could come out if it quickly. In the mean time it is in more of a neutral trend than up or down.

No comments: