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.

14 June 2010

Merv's Daily Commentary 14 June 2010

After The Close, 14 Jun 2010

Merv’s Daily Uranium Index
Market Data

Open: 150.48
High: 152.25
Low: 147.73
Close: 149.18
Volume: 3271

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

Slow and steady wins the race but I’d sooner see fast and furious to get the old juices flowing. One thing I don’t like to see is a closing price that is lower than the opening price, even if the close is still on the up side versus the previous day. This suggests that the pressure was more towards the down side near the close and weakness may be entering into the activity. It’s not a trend killer but I just don’t like that kind of daily action. We’ll see what transpires tomorrow.

As the activity is slowly moving higher and sideways it is getting closer to breaking above that down trend line. Maybe the line, a resistance line, was the reason speculators may be pulling back. They also might be waiting to see what transpires at this point.
The Merv's Daily Uranium Index closed higher by 1.12 points or 0.76%. There were 17 winners, 26 losers and 7 going nowhere. Cameco gained 0.1%, Estract gained 5.9%, Fronteer lost 1.4%, Paladin gained 0.6% and Uranium One lost 2.7%. The best daily gainer was Forsys Metals with a gain of 9.4% while the loser of the day was Crosshair Exploration with a loss of 15.4%. Market Vectors Nuclear Energy ETF gained 0.6%.

The intermediate term indicators are still some distance from any significant changes so the intermediate term rating remains BEARISH.

As for the short term indicators, the Daily Index had crossed above the short term moving average line but by the end of the day it closed below the line. The line itself is still very slightly pointing downward. Maybe tomorrow will be different. The momentum indicator continues t move higher but is still in its negative zone. It is, however, above its positive trigger line. The volume activity is still pretty low and needs to perk up. For today the short term rating has improve slightluy and is now a + NEUTRAL rating.

As for the immediate direction of least resistance, with all the very short term indicators continuing to move higher the up side should be the direction, however, I am just cautious due to today’s action as the Index hit the down trend line. I’ll go with the lateral direction for tomorrow.

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