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.
First a minor correction to yesterday’s post. I had it dated as the 29th while it should have been “After the Close 30 Mar 2009”.
The Daily Index today was lower just a little and “just a little” seems to be the daily occurrence for some time. We’re still waiting for that break-out and it looks like it wouldn’t be this week. There is only one more day of trading left and it is highly unlikely that the Index can make a move huge enough to break through that resistance.
The Merv’s Daily Uranium Index closed lower by 0.61 points or 0.35%. There were 16 winners, 25 losers and 9 sleeping. Cameco lost 0.7%, First Uranium lost 1.5%, Paladin was sleeping today, Uranium One lost 4.3% and Uranium Participation gained 0.3%. The best winner of the day was Mawson Resources with a gain of 5.9% while the loser of the day was Tournigan Energy with a loss of 10.9%. Market Vectors Nuclear Energy ETF lost 0.4%.
Once again the minor Index move did nothing for the intermediate and short term indicators. The intermediate term rating remains + NEUTRAL while the short term remains BULLISH.
As for the immediate direction of least resistance I’m going back to the lateral direction gain.