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.
Is that it for the down side? It looks like a reversal of activities during the day but as yet I wouldn’t get too enthused about it. It just might be a turn around but it’s very early and waiting for better confirmation is not going to cause much damage.
The Merv’s Daily Uranium Index closed higher by 0.58 points or 0.39% YIPPEE! There were 18 winners, 20 losers and 12 not in the game. Cameco gained 1.2%, Extract was not in the game, Fronteer gained 0.2%, Paladin lost 0.3% and Uranium One gained 7.4%. The best daily winner was Wealth Minerals with a gain of 9.4% while the loser of the day was Forum Uranium with a loss of 17.7%. Market Vectors Nuclear Energy ETF lost 0.0% (in other words it lost but less than 0.0%).
Nothing has changed today from the short or intermediate term. Both time periods remain BEARISH.
As for the immediate direction of least resistance, that might be to the up side now but I’ll stick with the lateral. I think you can say that the Index has been moving in a basic sideways direction for a couple of weeks without really getting anywhere on the up or down side. The Stochastic Oscillator continues to move lower, however, so there still may be a day or two more on the down side.