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.

02 June 2010

Merv's Daily Commentary 02 June 2010

After The Close, 02 Jun 2010

Merv’s Daily Uranium Index
Market Data

Open: 149.67
High: 154.38
Low: 148.34
Close: 153.25
Volume: 3246

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

A relatively good day for the uranium stocks. After a month and a half, this is the first day the very short term moving average line has crossed above the short term line. It’s a start, but a very encouraging start.

The Merv’s Daily Uranium Index closed higher by 3.06 points or 2.04%. There were 23 winners, 21 losers and 6 continuing to sleep. Cameco gained 2.0%, Extract was a sleeper, Fronteer gained 3.1%, Paladin gained 2.1%, and Uranium One gained 10.7%. The best winner today was USEC with a gain of 14.2% while the worst loser was Quaterra with a loss of 15.2%. Market Vectors Nuclear Energy ETF gained 2.7%.

The intermediate term is still some distance from confirming any kind of turn. The Daily Index remains below its negative sloping moving average line. The momentum indicator is showing signs of improvement and has moved above its positive sloping trigger line but still remains in its negative zone. The volume indicator continues to move primarily in a lateral direction but below its negative sloping trigger line. The intermediate term rating remains BEARISH.

On the short term things are getting better. The Daily Index closed above its moving average line but the line slope itself is still very slightly negative. The momentum indicator is tracking higher above its positive trigger line but still inside its negative zone. As for the daily volume action, that is still weak and lower than the average volume over the past 15 days. The short term rating has improved to the + NEUTRAL level. Of interest and encouraging is the very short term moving average line which is moving higher and has just crossed above the short term average for an advance warning of a ratings reversal to the up side for the short term.

As for the immediate direction of least resistance, I should go positive as the trend seems to be in that direction but the Stochastic Oscillator is somewhat of a problem and heading lower. I’ll stick with the lateral direction.

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