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.
Well, it keeps hanging inside that short term box. So far, so good. Now, let’s see that upside.
The Merv’s Daily Uranium Index closed lower by a miniscule 0.19 points or 0.11%. There were 16 winners, 22 losers and 12 sitting around having a beer. Cameco lost 0.1%, First Uranium lost 5.7%, Paladin gained 1.1%, Uranium One lost 1.9% and Uranium Participation lost 1.5%. The best daily performer was UEX Corp with a gain of 14.1% while the worst daily performer was Denison Mines with a loss of 7.1%. Market Vectors Nuclear Energy ETF gained 0.0%.
I’m getting a little lazy, well at lot lazy. With the miniscule loss on the day the intermediate and short term indicators remained unchanged from the week-end so I’ll just cut to the chase and stay with the BEARISH rating for both time periods.
As for the immediate direction of least resistance I’ll still go with the lateral direction. I don’t see much more downside in the Index so the Index should be heading upward but I’ll wait another day for better confirmation.