Merv’s Daily Uranium Index
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It seems like the Daily Index wants to stabilize and maybe get back into the bullish mode. The day’s action was quite positive. It barely moved but after yesterday’s downside move a continuation on the down side was expected. The fact that the Index held on to the previous level was impressive. Now, let’s see what it does as we move closer to the week-end.
The Merv’s Daily Uranium Index closed higher by 0.76 points or 0.41%. There were 28 winners, 17 losers and 5 confused. Cameco lost 2.0%, First Uranium gained 2.2%, Paladin gained 0.3%, Uranium One gained 0.6% and Uranium Participation lost 0.5%. The best daily winner was Blue Sky Uranium with a gain of 25.0% while the loser of the day was Strateco with a loss of 4.4%. Market Vectors Nuclear Energy ETF gained 1.1%.
Cutting today’s commentary short, the minor move on the day did nothing for the indicators in the intermediate or the short term. The ratings remain BULLISH for both periods. To understand where the indicators are, go to yesterday’s comments. They remain unchanged.
As for the immediate direction of least resistance, I should go with the down side as that seems to result in an upside market move but I’ll chicken out and go back to my most common direction, the lateral direction.