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.

03 March 2010

Merv's Daily Commentary 03 Mar 2010

After The Close, 03 Mar 2010

Merv’s Daily Uranium Index
Market Data

Open: 172.29
High: 174.71
Low: 169.24
Close: 172.39
Volume: 4431

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

It looks like we are back into another lateral trend, at least for the short term. The Daily Index moved up and down with little final effort. This has a feel of getting ready for a new move, but I think I’ve said THAT before. Unfortunately, uranium price dropped another $1.25 this week and is very close to its bear market low. This does not bode too well for stocks, although stocks are suppose to move ahead of the metal trend as intelligent speculators look ahead.

The Merv’s Daily Uranium Index closed higher by only 0.28 points or 0.16%. There were 20 winners, 16 losers and a whole lot of stocks doing nothing (14 of them). Cameco lost 2.3%, First Uranium lost 5.2%, Paladin did nothing, Uranium One lost 1.0% and Uranium Participation lost 1.5%. The best winner of the day was Bayswater Uranium with a gain of 12.7% while the loser of the day was Mawson with a loss of 8.8%. Market Vectors Nuclear Energy ETF gained 0.3%.

Things are still as they were for the past few days in the intermediate term. The Daily Index remains below its negative sloping moving average line. The momentum indicator remains in its negative zone but is above its positive trigger line. The volume indicator is just slightly above its positive sloping trigger line. All in all, the rating for the intermediate term is still BEARISH.

On the short term the indicators are very close to their trigger lines and this causes whip-saw moves to occur from day to day. Today, the Daily Index remains above its positive moving average line while the momentum indicator remains in its negative zone barely above its just positive trigger line. The short term rating just barely sneaked into the BULLISH level.

As for the immediate direction of least resistance, that will continue to be to the lateral direction.

No comments: