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.
Not to worry, it’s not quite as bad as it seems. The Daily Index was lower by 1.31% but if we calculate the Weekly Index way, giving preference to the lower priced stocks, then the decline was only 0.12%. Also, looking at the winners and losers there were no double digit losers so the declines were restrained. The winners were restrained also but on the other hand it was a down day in general.
The Merv’s Daily Uranium Index closed lower by 2.28 points or 1.31%. There were 15 winners, 27 losers and 8 stocks in the confused section. Of those 5 largest stocks Cameco lost 2.8%, First Uranium was one of the confused, possibly an after effect from yesterday’s sharp decline, Paladin lost 3.3%, Uranium One gained 1.8% and Uranium Participation lost 0.3%. The best winner of the day was Uranerz Energy with a gain of 9.2% while the loser of the day was Blue Sky Uranium with a loss of 5.4%.
Nothing has changed in the short or intermediate term indicators so the ratings remain BEARISH for both periods.
As for the direction of least resistance, I’ll stick with my lateral direction for another day.