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.

22 October 2009

Merv's Daily Commentary 22 Oct 2009

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.

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