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.
A small advance in the Daily Index but still basically within a lateral trend area. We would need a few extra days like today before we can say that we are definitely in a rally mode.
The Merv’s Daily Uranium Index closed higher by 2.82 points or 1.73%. There were 24 winners, 15 losers and a whole pile (11) just tearing their hair out wondering which way to go. Of the five largest stocks, Cameco gained 3.6%, First Uranium gained 0.7%, Paladin gained 3.1%, Uranium One lost 0.3% and Uranium Participation lost 1.5%. The best winner of the day was NWT Uranium with a gain of 10.0% while the worst loser of the day was Xemplar Energy with a loss of 7.9%. Market Vectors Nuclear Energy ETF gained 1.9%.
Nothing has yet changed with today’s upside move. We need more of them to get the indicators to start changing. Both the intermediate and short term ratings remain BEARISH.
As for the immediate direction of least resistance, that does seem to be more to the up side but I’ll be conservative and stick with the `lateral for another day.