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.

04 February 2010

Merv's Daily Commentary 04 Feb 2010

After The Close, 04 Feb 2010

Merv’s Daily Uranium Index
Market Data

Open: 166.56
High: 170.78
Low: 162.40
Close: 163.51
Volume: 4347

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

WOW! The opening of the day was a real bust but for the rest of the day there was not that much additional movement, a few points up, a few points down. It may not be much to grab on to but despite the drop we are still inside the several month old box. As this week-end will probably show we are getting closer and closer to the lower support but it sure would be more encouraging to be closer to the upper resistance level.

The Merv’s Daily Uranium Index closed on the down side by 7.95 points or 4.64%. There were only two brave souls in the winner’s circle while the loser’s circle was flooded with 45 stocks. That leaves only 3 stocks swimming around in circles. As for the five largest stocks, all were losers. Cameco lost 4.0%, First Uranium lost 7.5%, Paladin lost 4.6%, Uranium One lost 6.7% and Uranium Participation lost 1.7%. The best of the two winners was Formation Capital with a gain of (hold your breadth) 2.5% while the loser of the day was Uranerz Energy with a loss of 14.9%. Market Vectors Nuclear Energy ETF lost 3.6%.

With a continuation on the down side the indicators all remain negative and with that the short and intermediate term ratings have not changed and remain BEARISH.

As for the immediate direction of least resistance, that is once more to the down side. The action during the day closed near its low point of the day indicating that there was not really any rally at the end. The Stochastic Oscillator made a sharp turn to the down side and closed in its negative zone below its trigger line. However, the trigger has not yet turned to the down side but most likely will tomorrow.

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