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.

01 June 2010

Merv's Daily Commentary 01 June 2010

After The Close, 01 Jun 2010

Merv’s Daily Uranium Index
Market Data

Open: 152.87
High: 155.25
Low: 149.18
Close: 150.19
Volume: 3645

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

Well, we now have a lower high in our sequence of lower, lower. The positive divergence is still in effect so let’s not lose faith.

The Merv’s Daily Uranium Index closed lower by 4.23 points or 2.74%. There were 11 winners, 32 losers and 7 sleepers. Cameco lost 4.5%, Extract lost 3.9%, Fronteer lost 2.0%, Paladin lost 1.8% and Uranium One was one of the sleepers. The best winner of the day was Benton with a gain of 8.7% while the loser of the day was Uranerz with a loss of 13.5%. Market Vectors Nuclear Energy ETF lost 2.0%.

On the intermediate term the Daily Index is once more moving further away from its negative sloping moving average line. The momentum indicator remains in the negative zone and has now dropped below its negative trigger line. The volume indicator continues to move below its negative trigger line. All in all the intermediate term rating today remains BEARISH.

On the short term the Index has once more dropped below its moving average line and the line has turned downward. The momentum indicator remains in its negative zone and has dropped below its trigger line, however, the trigger remains slightly pointing upwards. The daily volume action looks more like the action during a bear market than one wanting to reverse into a bull. The short term rating goes back to a BEARISH rating. The very short term moving average line remains below the short term line continuing to confirm a bearish trend.

As for the immediate direction of least resistance, that should be the down side as the Stochastic Oscillator has dropped below its overbought line and below its trigger line. However, ever the optimist, I’ll go with my normal lateral trend.

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