After The Close, 20 May 2010
Merv’s Daily Uranium Index
Market Data
Open: 147.87
High: 149.56
Low: 142.55
Close: 145.65
Volume: 4865
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Ouch!
Another day on the dark side. It looks more and more like 90 is the target.
The Merv’s Daily Uranium Index closed lower by 5.09 points or 3.38%. There were 5 times the winners today as yesterday, i.e. there were 5 winners today. There were 36 losers and 9 sleepers. Cameco lost 1.5%, Extract was one of the sleepers, Paladin lost 9.5%, Uranium One lost 6.8% and a new stock in the top five is Fronteer Gold with a loss of 1.8%. The best winner was Benton with a gain of 8.7% while the worst loser was Quest with a loss of 12.0%. Market Vectors Nuclear Energy ETF lost 4.2%.
No change on the short or intermediate term so ratings for both periods remains BEARISH.
As for the immediate direction of least resistance, I will stick with the lateral direction. The Stochastic Oscillator is in its oversold zone and seems to be on the verge of turning around so maybe a halt to this nonsense of recent days might be coming to an end, for a while.
1 comment:
Thanks Merv. Lets hope for better days. The market action is crushing. Good luck to all!
Rob C.
Chicago
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