After The Close, 10 May 2010
Merv’s Daily Uranium Index
Market Data
Open: 158.70
High: 162.32
Low: 155.61
Close: 158.53
Volume: 4263
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
So, we had an up day but not to the same extent as the general markets had. If you look at a chart of so many stocks in the market you see the same pattern today. A sharp up move at the very beginning of the day, right at the open. This is then followed almost immediately by a halt to the up move and the rest of the day was a downer, or at best a lateral move. Why do you think the opening price was way up there. Who was selling at the top and during the day as the masses were all excited and buying. We’ll probably know tomorrow if the buyers were brilliant or not.
The Merv’s Daily Uranium Index closed on the up side by 4.24 points or 2.75%. There were 32 winners on the day, 13 losers (there were losers?) and 5 sleepers. Cameco gained 1.3%, Extract gained 3.1%, Paladin gained 12.5%, Uranium One was one of those losers with a 0.8% loss and USEC gained 10.5%. The best winner today was Blue Sky Uranium with a gain of 13.1% while the loser of the day was Uracan with a loss of 11.1%. Market Vectors Nuclear Energy ETF gained 4.7%.
Other than the short term momentum climbing above its overbought line and trigger line nothing in the intermediate or short term has changed with today’s action. Another up day is needed for things to start to change. Both time periods ratings remain BEARISH for another day.
As for the immediate direction of least resistance, I’ll stick with the lateral direction for another day.
Merv’s Daily Uranium Index
Market Data
Open: 158.70
High: 162.32
Low: 155.61
Close: 158.53
Volume: 4263
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
So, we had an up day but not to the same extent as the general markets had. If you look at a chart of so many stocks in the market you see the same pattern today. A sharp up move at the very beginning of the day, right at the open. This is then followed almost immediately by a halt to the up move and the rest of the day was a downer, or at best a lateral move. Why do you think the opening price was way up there. Who was selling at the top and during the day as the masses were all excited and buying. We’ll probably know tomorrow if the buyers were brilliant or not.
The Merv’s Daily Uranium Index closed on the up side by 4.24 points or 2.75%. There were 32 winners on the day, 13 losers (there were losers?) and 5 sleepers. Cameco gained 1.3%, Extract gained 3.1%, Paladin gained 12.5%, Uranium One was one of those losers with a 0.8% loss and USEC gained 10.5%. The best winner today was Blue Sky Uranium with a gain of 13.1% while the loser of the day was Uracan with a loss of 11.1%. Market Vectors Nuclear Energy ETF gained 4.7%.
Other than the short term momentum climbing above its overbought line and trigger line nothing in the intermediate or short term has changed with today’s action. Another up day is needed for things to start to change. Both time periods ratings remain BEARISH for another day.
As for the immediate direction of least resistance, I’ll stick with the lateral direction for another day.
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