Merv’s Daily Uranium Index
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Another down day but so minor that there’s nothing to see here. The reaction may be ending but we’ll have to wait another day or two to see for sure.
The Merv’s Daily Uranium Index lost 0.31 points or 0.21% on the day. There were 16 winners, 28 losers and 6 just playing games. Cameco lost 0.2%, Extract gained 1.5%, Fronteer gained 3.3%, Paladin gained 2.2% and Uranium One lost 3.4%. The best winner of the day was Forum Uranium with a gain of 18.8% while the loser of the day was Global Uranium Fund with a loss of 10.5%. Market Vectors Nuclear Energy ETF gained 1.4%.
The day has seen no change in the indicators or chart patterns so I’ll just make it short and say that both the intermediate and short term ratings remain BEARISH.
As for the immediate direction of least resistance, I will go with the lateral although it looks like the Index is preparing for another move to the up side.