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.
So far, so good. That initial support at the 153 level held today. One day does not make a trend so we need some more confirmation. A couple more days on the up side will do it.
The Merv’s Daily Uranium Index gained 1.15 points or 0.74%. There were 23 winners, 19 losers and 8 sleepers. Cameco lost 0.5%, Extract lost 3.2%, Fronteer gained 7.7%, Paladin lost 2.0% and Uranium One gained 4.0%. The best winner of the day was Quest Rare Minerals with a gain of 9.6% while the loser of the day was Terra Ventures with a loss of 6.9%. Market Vectors Nuclear Energy ETF gained 0.4%.
Today’s action did nothing to the indicators but has moved them a little closer to reversing again. So, for today the ratings for the short and intermediate term remain BEARISH.
The immediate direction of least resistance has changed but I will go only to the lateral for tomorrow rather than the up side.