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.

09 September 2010

Merv's Daily Commentary 09 Sept 2010

After The Close, 09 Sept 2010

Merv’s Daily Uranium Index
Market Data

Open: 166.10
High: 167.97
Low: 162.99
Close: 165.23
Volume: 3014

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

As long time readers may remember, I just don’t like days where the Index starts off on a real upside move but hits resistance and by the end of the day closes lower than where it opened, but still showing a plus day. That’s what we have today. It is at best an undecided day. Add to that are the 12 stocks closing with no change and we have a day where nothing happened really but the Index is trying to deceive us. For the past few days the closing price may have been on the up side but in the end the Index closed almost at its mid trading range point. This also is not good. It suggests a topping activity more than an up trend. The Stochastic Oscillator picks this up and as you will see on the week-end it has topped out and is heading downward in an opposite direction to that of the Index closing prices. Bases upon the action of the Stochastic Oscillator I would be inclined to suggest that a reversal of the Index itself is just around the corner.

The Merv’s Daily Uranium Index closed higher by 0.58 points or 0.35%. There were 19 winners, 19 losers and 12 stocks bumming around. Cameco lost 0.8%, Extract gained 3.2%, Fronteer was just bumming around, Paladin lost 0.8% and Uranium One gained 0.6%. The best winner of the day was Ucore Uranium with a gain of 22.0% while the loser of the day was Crosshair Exploration with a loss of 11.8%. Market Vectors Nuclear Energy ETF gained 0.6%.

As far as the indicators are concerned they are all positive for the intermediate and long term. The ratings for these periods remain BULLISH.

On the long term we should have some further strengthening in the rating tomorrow. For today although the Index remains above the long term moving average line the line has not yet turned to the up side. Today it has only turned to the lateral direction. One more positive day and the slope should go positive. The long term remains + NEUTRAL

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