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.

12 July 2010

Merv's Daily Commentary 12 July 2010

After The Close, 12 Jul 2010

Merv’s Daily Uranium Index
Market Data

Open: 145.49
High: 148.76
Low: 143.87
Close: 147.01
Volume: 4574

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

A little late but better late than never. The uranium stocks perked up a little more today and the Daily Index is starting to look better and better. So far only the short term has really been affected but trends usually reverse starting with the shortest term.

The Merv's Daily Uranium Index closed on the up side by 2.44 points or 1.68%. There were 25 winners, 13 losers and 12 sleepers. Cameco gained 4.9%, Extract was a sleeper, Fronteer gained 1.3%, Paladin gained 1.5% and uranium One gained 2.5%. The best daily winner was Bannerman with a gain of 32.1% while the loser of the day was Tournigan with a loss of 15.0%. Market Vectors Nuclear Energy ETF gained 0.8%.

Nothing has changed in the intermediate term yet so I’ll just go directly to the rating, which remains BEARISH.

As for the short term That’s where the action is. The Daily Index is now nicely above its short term moving average line and the line is now sloping upwards. The momentum indicator has just inched its way into the positive zone and above a positive trigger line. The daily volume action is also perking up but we need more days of reasonable volume activity. In the mean time the short term rating has now gone all the way to a BULLISH rating.

For the immediate direction of least resistance, I will stick with the up side but there is some concern that the momentum of the move is slowing down and a rest or reaction may not be far away.

No comments: