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.

06 July 2010

Merv's Daily Commentary 06 July 2010

After The Close, 06 Jul 2010

Merv’s Daily Uranium Index
Market Data

Open: 139.78
High: 142.56
Low: 137.61
Close: 139.79
Volume: 3881

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

A small up tick in the Index today and it looks like the Index is bottoming out for now. Uranium was unchanged this week but seems to be in a positive mood. It is at a resistance level but a move to about the $42.50 level ($0.75 above the latest price) would be a 6 month upside break. We’ll just have to wait till next week to see if it moves through resistance.

The Merv’s Daily Uranium Index closed higher by 1.21 points or 0.87%. It was a “quality” move as the low priced stocks continued their decline. The average price of a component stock actually lost 1.00% today. It was the high priced stocks that kept the Daily Index above water due to the method of Index calculation. There were 15 winners, 21 losers and 14 just sitting there with a beer doing nothing much. Cameco gained 3.7%, Extract was having a beer, Fronteer gained 0.2%, Paladin gained 4.3% and Uranium One gained 3.3%. The best winner of the day was Uranium Resources with a gain of 7.7% while the loser of the day was Kivalliq Energy with a loss of 12.1%. Market Vectors Nuclear Energy ETF gained 0.5%.

There is nothing new to report from the indicators so both the intermediate and short term ratings remain BEARISH.

As mentioned, it looks like the Index wants to move higher and is preparing for a move. The Stochastic Oscillator has moved out of its oversold zone and is now above the oversold line and above its now positive trigger line. I’ll go out on a limb and say that the direction is now to the up side as the direction of least resistance.

1 comment:

Got A Watch said...

Merv, thanks as always for all your work.

I noticed what seems to be a typo in the July 2 "Technically Precious":

..."and silver will quickly get to $10." - I think you mean $20 there, no?

No big deal. It's summer, hope you are taking some time off to go to the beach or similar pursuits far far away from markets.

Best wishes and many thanks.