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.

23 September 2010

Merv's Daily Commentary 23 Sept 2010

After The Close, 23 Sept 2010

Merv’s Daily Uranium Index
Market Data

Open: 166.22
High: 170.35
Low: 164.90
Close: 167.98
Volume: 3563

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

These past 6 days the Daily Index has moved in a very tight lateral box. I haven’t seen action this tight for so long in quite a while. Sooner or later it will have to break out. This sideways motion is one way of getting to the up trend support line without actually losing any points. It’s still a few more days before it gets there and anything can happen in the mean time. Other than that nothing much is happening.

The Merv’s Daily Uranium Index closed higher by 1.03 points or 0.62%. There were 21 winners, 18 losers and 11 stocks whistling in the wind. Cameco gained 0.1%, Extract gained 3.0%, Fronteer gained 0.1%, Paladin gained 0.6% and Uranium One gained 0.9%. The best daily winner was Bannerman with a gain of 19.4% while the loser of the day was Pele Mountain with a loss of 8.8%. Market Vectors Nuclear Energy ETF lost 0.9%.

As mentioned, nothing much was happening today so both the short and intermediate term ratings remain BULLISH.

As for the immediate direction of least resistance, I guess I’ll go with the lateral as long as the Index stays in the box.

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