BASIC NOTES

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 July 2010

Merv's Daily Commentary 29 Jul 2010


After the Close, 29 July 2010
Open: 158.40
High: 159.82
Low: 154.90
Close: 157.11
Vol: 5042
A second day of next to no movement in the Daily Index. Some individual stocks are making good gains but overall the Index is at a stalemate. A topping process may be evident but how far it might react is an unknown. I don't think any reaction will go far. The recent up trend was showing good strength (except for the daily volume action) and is expected to continue, after a rest.
The Merv's Daily Uranium Index closed lower by all of 0.14 points or 0.09%. There were 15 winners, 26 losers and 9 going nowhere. Cameco gained 0.0%, Extract was going nowhere, Fronteer lost 0.2%, Paladin gained 0.8% and Uranium One lost 1.7%. The best daily gainer was Forum Uranium with a gain of 16.7% while the worst daily loser was Tornigan Energy with a loss of 11.9%. Market Vectors Nuclear Energy ETF gained 0.2%.
Again, being on a holiday I'm cutting some commentaries short. The intermediate and short term indicators remain unchanged over the past few days and both remain rated as BULLISH. Their next more agressive moving average lines confirm the ratings.
As for the immediate direction of least resistance, that would remain as the lateral, although the downside is in control. The Stochasatic Oscillator has now moved back below its overbought line and below its now negative trigger line. The very short term momentum is suggesting the strength is moving towards the negative.

2 comments:

iaintdoneyet said...

Merv - It's a pleasure to see that new up-channel in your daily index, hopefully it is turn that we have been waiting for.
I am a daily reader and find tremendous value in your charts and daily commentary. I wanted to say thank you for providing such a great service, and as thanks, I just purchased a subscription to Precious Metals Central... for another year.

Cheers,
Wayne

Merv said...

Wayne,

Thanks for both the complements and the subscription. Both are appreciated.