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 March 2010

Merv's Daily Commentary 04 Mar 2010

After The Close, 04 Mar 2010

Merv’s Daily Uranium Index
Market Data

Open: 172.53
High: 173.66
Low: 168.97
Close: 170.96
Volume: 4055

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

The basically lateral trend continues but starting to show greater weakness.

The Merv’s Daily Uranium Index closed lower by 1.43 points or 0.83%. There were 13 winners, 32 losers and 5 sleepers. Cameco lost 0.7%, First Uranium gained 2.0%, Paladin lost 1.7%, Uranium One lost 3.3% and Uranium Participation lost 0.8%. The best performer was Continental Precious Minerals with a gain of 14.9% while the worst performer was Bayswater Uranium with a loss of 11.3%. Market Vectors Nuclear Energy ETF lost 0.8%.

The only change in the intermediate term indicators is the momentum indicator trigger line turning downward. However the rating here is already BEARISH so the trigger turning down was a non-event.

Everything on the short term is now also negative. The Daily Index has once more closed below its short term moving average line and now the line has turned downward. The momentum indicator has moved into its negative zone below its trigger line, with the trigger turning downward. The daily volume activity remains weak, which is what one would expect during a weak market. On the short term the rating is BEARISH today. As we see, when the basic indicator or Index is very close to its respective trigger line we often get into whip-saw situations. This we are getting on the short term. The very short term moving average line has just dropped below the short term average confirming the bearish rating.

As for the immediate direction of least resistance, I should go to the down side as the Index and stock activity seems to be getting weaker but will remain in the lateral mode for another day.

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