Merv’s Daily Uranium Index
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Still in the “box” and still in the up trending channel. Today’s action seemed to be trending in the right direction except that it closed the day below its daily opening price. One often looks at such a close as a negative day despite the Index still closing above the previous close. The waiting game continues to see which way this market will play itself out.
The Merv’s Daily Uranium Index closed the day on the up side by 0.33 points or 0.19%. There were 23 winners, 20 losers and 7 just going along for the ride. Cameco lost 1.1%, First uranium gained 0.9%, Paladin lost 2.2%, Uranium One was one of those just going along for the ride with a 0.0% move and Uranium Participation gained 2.0%. The best winner of the day was Ucore Uranium with a gain of 29.3% while the loser of the day was Bayswater Uranium with a loss of 9.1%. Market Vectors Nuclear Energy ETF was up 1.6%.
There doesn’t seem to be any real change in the intermediate or short term indicators from that of the week-end so I’ll just cut to the chase and rate both time periods as continuing BULLISH.
I guess I should have gone with my more common direction of least resistance during the week-end. That being the lateral trend. The Stochastic Oscillator is still moving lower and with today’s close being below its open I will still stick with the down side as the direction of least resistance.