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.

29 June 2010

Merv's Daily Commentary 29 June 2010

After The Close, 29 Jun 2010

Merv’s Daily Uranium Index
Market Data

Open: 144.93
High: 146.27
Low: 140.94
Close: 142.42
Volume: 3622

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

Well, the support at the 145 level has been breached and now we are holding our breadth to see if the one at 140 is going to hold or not. I’m still looking at the Stochastic Oscillator for encouragement and it shows a lateral drift rather than a downward trend. That’s about as much encouragement I can come up with.

The Merv’s Daily Uranium Index closed lower by 4.43 points or 3.02%. There were only 6 winners, 37 losers and 7 sleepers. Cameco lost 3.0%, Extract lost 6.7%, Fronteer lost 0.2%, Paladin lost 3.9% and Uranium One lost 3.7%. The best winner of the day was Xemplar Energy with a gain of 12.5% (that’s only a penny gain for an 8 cent stock) while the loser of the day was Tournigan with a loss of 14.8%. Market Vectors Nuclear Energy ETF lost 3.6%.

As you can guess, nothing in the indicators has changed and the ratings remain BEARISH for both the short and intermediate term.

As for the immediate direction of least resistance, that’s a hard one today. The Stochastic Oscillator has not been dropping as has the Index so one might be encouraged, however, all else is negative. I’ll stick with a lateral guess.

No comments: