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.

16 March 2010

Merv's Daily Commentary 16 Mar 2010

After The Close, 16 Mar 2010

Merv’s Daily Uranium Index
Market Data

Open: 173.12
High: 176.23
Low: 171.22
Close: 174.47
Volume: 4532

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

Another day, another reversal of direction in closing prices. Today, it’s to the up side. However, if we look closely it is getting very slightly more positive than negative and it’s only time before an upside break.

The Merv’s Daily Uranium Index closed up by 1.93 points or 1.12%. There were 25 winners, 18 losers and 7 just sitting there. Cameco lost 0.5%, First Uranium lost 3.0%, Paladin gained 2.6%, Uranium One lost 0.4% and Uranium Participation lost 0.5%. The best winner was Denison Mines with a gain of 8.2% while the loser of the day was Uracan with a loss of 7.5%. Market Vectors Nuclear Energy ETF gained 1.4%.

The Daily Index has once more closed above its now positive intermediate term moving average line. The momentum indicator has again moved into new recent highs and just inside its positive zone for the first time since mid-Jan. It is also above its positive trigger line. The volume indicator has once more moved above its trigger line and the trigger is pointing upwards. Once again the intermediate term rating has reversed to the BULLISH side. The short term moving average line has not yet moved above the intermediate term and we do not yet have confirmation from this source.

On the short term The Daily Index continues above its positive moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The daily volume action still needs to improve to give us more confidence in a possible new bull trend. The short term remains BULLISH.

As for the immediate direction of least resistance, I’m going back to the up side as it does look like that’s where the Index wants to go, although it has not yet breached that short term box resistance. We’ve had a $0.50 rise in the price of uranium this week so that might help.

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