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.

18 May 2010

Merv's Daily Commentary 18 May 2010

After The Close, 18 May 2010

Merv’s Daily Uranium Index
Market Data

Open: 157.14
High: 159.14
Low: 153.55
Close: 154.73
Volume: 3747

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

The Index is getting closer and closer to that 150 support. A few weeks back, on the last decline, we made new intra-day lows and closing lows that were not seen since the sharp bull move of a year ago. We are heading once more towards a new low. We’re less than half a point from a new low. However, the P&F chart filters out minor moves or moves of less than 10 points so the critical value to watch is the 150.00 level. A positive sign, however, is the fact that the momentum indicator is not dropping as fast as the Index and may be giving us a positive divergence if it continues. Uranium price remained unchanged this week. That may not be helping unless speculators take this as a stabilizing effort and positive for futures prices.

The Merv’s Daily Uranium Index closed lower by 1.91 points or 1.22%. There were 25 winners, 10 losers and a whole bunch of stocks (15) fast asleep. Cameco gained 1.2%, Extract lost 7.3%, Paladin lost 0.9%, Uranium One gained 0.4% and USEC gained 0.7%. The best winner was Global Uranium Fund with a gain of 8.4% while the worst loser was Extract Resources with a loss of 7.3%. Market Vectors Nuclear Energy ETF gained 0.8%.

Another day where there is nothing much to say as nothing has changed in the indicators to affect the ratings. Both the intermediate and short term ratings remain BEARISH.

As for the immediate direction of least resistance, once again I’ll go with the lateral until I get it right.

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