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.

07 June 2010

Merv's Daily Commentary 07 June 2010

After The Close, 07 Jun 2010

Merv’s Daily Uranium Index
Market Data

Open: 149.22
High: 152.18
Low: 146.10
Close: 148.39
Volume: 2829

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

That down trend line continues to halt any attempt to get a new bull started. Sooner or later it will be breached bur in the mean time just sit back and relax.

The Merv’s Daily Uranium Index closed lower by 1.91 points or 1.27%. There were 11 winners, 31 losers and 8 going nowhere. Cameco lost 2.1%, Extract lost 4.7%, Fronteer gained 8.2%, Paladin lost 3.3% and Uranium One gained 2.0%. The best winner was that 8.2% gain by Fronteer. The worst loser was Forum Uranium with a loss of 20.0%. Market Vectors Nuclear Energy ETF lost 0.9%.

The only change in the indicators today is the very short term moving average crossing below the short term line to confirm the short term bearish rating. Other than that all indicators are unchanged from the week-end. The Intermediate term and short term ratings remain BEARISH.

As for the immediate direction of least resistance, that is probably going to be another down day but it still seems that the previous low of a couple of weeks ago will hold.

No comments: