BASIC NOTES

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.



07 January 2010

Merv's Daily Commentary 07 Jan 2010


After The Close, 07 Jan 2010

Merv’s Daily Uranium Index
Market Data

Open: 188.68
High: 190.91
Low: 183.58
Close: 188.08
Volume: 6911

Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.

It’s been a few days since I last posted any commentary (that dastardly cold). Not yet fully recovered but not bed ridden either, so here goes.

The charts are getting pretty interesting. That P&F chart shown earlier is now at a point that one more notch on the up side would suggest a new bullish break-out with a longer term projection to the 540 level. Such a move would also get us out of the “box” we’ve been in for far, far too long. Looking at the short term momentum indicator It was no great surprise that we went nowhere today, however, although the Index did make a significant drop during the day in the end the bulls moved the Index back up to its previous day’s level. This should be viewed as positive action.

The Merv’s Daily Uranium Index closed the day very slightly on the down side with a loss of 0.37 points or 0.19%. There were 24 winners, 20 losers and 6 confused. The 5 largest were mixed in their moves. Cameco lost 1.8%, First Uranium lost 1.2%, Paladin gained 1.7%, Uranium One gained 11.9% and Uranium Participation lost 0.7%. The best daily winner was Pele Mountain with a gain of 20.0% while the loser of the day was Uracan Resources with a loss of 6.3%. Market Vectors Nuclear Energy ETF lost 0.6%.

Throughout these past several days of non-reporting the intermediate term indicators had been continually in the positive zone. The Index remains above its positive moving average line. The momentum indicator remains in its positive zone above its positive trigger line. The volume indicator had been in new all time high territory but is just slightly below such high. It is heading higher and above its positive trigger line. On the intermediate term the rating remains BULLISH.

On the short term things are basically the same. The Index is above its positive sloping moving average line. The momentum indicator remains in its positive zone above its positive trigger line. The daily volume action has been steadily improving but as yet has not risen to any great level. Maybe speculators are late getting back to trading after the holidays. The short term rating remains BULLISH.

It’s getting closer and closer for something to be taking off it’s just a waiting game.

Full week-end commentary should be available on Sunday.

3 comments:

Anonymous said...

Come on baby break on through !!!!

Lets hope the markets like or at least respond positively to tomorrows employment numbers.

A disappointment would seem to set us up for a triple top in the index.

I dont think that is going to happen though. I think we go through.

Talk about deserving to be rewarded for some patience, having now basically consolidated the last move up for 7 months. Sheesh!

Here we go!

Anonymous said...

I wonder if this breakout will be different this time, as in sustainable? Because the index based for a 2 month period, Nov and Dec. (The previous breakouts did not base at their tops) We'll see I guess...

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