After The Close, 22 Oct 2009
Merv’s Daily Uranium Index
Market Data
Open: 187.85
High: 190.10
Low: 182.91
Close: 187.18
Volume: 4765
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
So far the rest period is acting as expected. There is still some more lateral to downside ahead but as mentioned yesterday, I don’t see anything that says this is going to be a serious drop in the Index. The Index stayed inside that up trend channel but I would not place any bets it will remain there. The slope of the channel lines are just too steep to expect the action to remain within such a trend for any length of time. I still, at this time, envision an Index drop to no more than the 175 level, if that.
The Merv’s Daily Uranium Index closed lower by 1.50 points or 0.79%. There were 14 winners, 29 losers and 7 playing hid and seek. Cameco lost 0.1%, First Uranium lost 4.3%, Paladin gained 1.7%, Uranium One lost 1.6% and Uranium Participation lost 0.8%. The Market Vectors Nuclear Energy ETF lost 0.7%. The best performer was Uracan Resources with a gain of 12.9% while the worst performer was Tournigan Energy with a loss of 10.0%.
Nothing has changed on the intermediate term as far as the indicators are concerned so the rating remains BULLISH.
The short term indicators are likewise unchanged although the momentum indicator has now dropped below its still positive sloping trigger line. It does also still remain in its positive zone. The rating remains BULLISH for another day and in all likelihood into the week-end.
The Stochastic Oscillator continues to move lower and is at its lowest point since the 7th of Oct, but still in the positive zone. I will go with the lateral as the direction of least resistance as nothing seems specifically weak or strong.
Merv’s Daily Uranium Index
Market Data
Open: 187.85
High: 190.10
Low: 182.91
Close: 187.18
Volume: 4765
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
So far the rest period is acting as expected. There is still some more lateral to downside ahead but as mentioned yesterday, I don’t see anything that says this is going to be a serious drop in the Index. The Index stayed inside that up trend channel but I would not place any bets it will remain there. The slope of the channel lines are just too steep to expect the action to remain within such a trend for any length of time. I still, at this time, envision an Index drop to no more than the 175 level, if that.
The Merv’s Daily Uranium Index closed lower by 1.50 points or 0.79%. There were 14 winners, 29 losers and 7 playing hid and seek. Cameco lost 0.1%, First Uranium lost 4.3%, Paladin gained 1.7%, Uranium One lost 1.6% and Uranium Participation lost 0.8%. The Market Vectors Nuclear Energy ETF lost 0.7%. The best performer was Uracan Resources with a gain of 12.9% while the worst performer was Tournigan Energy with a loss of 10.0%.
Nothing has changed on the intermediate term as far as the indicators are concerned so the rating remains BULLISH.
The short term indicators are likewise unchanged although the momentum indicator has now dropped below its still positive sloping trigger line. It does also still remain in its positive zone. The rating remains BULLISH for another day and in all likelihood into the week-end.
The Stochastic Oscillator continues to move lower and is at its lowest point since the 7th of Oct, but still in the positive zone. I will go with the lateral as the direction of least resistance as nothing seems specifically weak or strong.
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