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.
Another small down day in the Daily Index but nothing very much has been affected, at least not from the ratings standpoint. The Index remained slightly above that support line. Let’s see if the line holds up. The Index is also within a short term up trending channel. With the Stochastic Oscillator continuing to move lower one wonders if the Index is not headed towards recent lows, either late March or early Feb.
The Merv’s Daily Uranium Index closed lower by 1.19 points or 0.67%. There were 16 winners, 27 losers and 7 stocks giving us a headache. Cameco lost 0.9%, Extract was giving us a headache, Paladin lost 3.2%, Uranium One lost 0.4& and USEC lost 0.5%. The best winner was Blue Sky Uranium with a small gain of 6.3% while the worst loser was Quest Uranium with also a small loss of 7.3%. Market Vectors Nuclear Energy ETF gained 0.3%.
With the minor lower close today nothing much has changed from the week-end. About the only change was that the short term momentum indicator has crossed below its trigger line but the trigger remains pointing upwards. Both the intermediate and short term ratings remain BULLISH.
As for the immediate direction of least resistance, I will remain with the lateral direction for another day. The Index does not seem to be going anywhere fast even though the Stochastic Oscillator continues to move lower.