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.
Another day and not much is yet happening. A small advance but with the closing price being lower than the opening price suggesting some weakness during the day. The Index seems to be once more trapping itself in a lateral drift. Maybe it’s not sure where it should go. Uranium losses $1.50 one week and then gains it back the next. That should confuse things.
The Merv’s Daily Uranium Index closed higher by 0.44 points or 0.25%. There were 21 winners, 23 losers and 6 just looking. Cameco gained 0.2%, Extract gained 0.7%, Fronteer lost 1.9%, Paladin gained 2.5% and Uranium One gained 5.4%. The best daily winner was Global Uranium Fund with a gain of 8.2% while the loser of the day was Ucore Uranium with a loss of 9.0%. Market Vectors Nuclear Energy ETF gained 1.1%.
As mentioned, nothing much changed today and all time period ratings remain BULLISH. As for immediate direction of least resistance, that should be to the down side with the Stochastic Oscillator moving lower as the Index moves higher but I’ll go with the lateral direction for tomorrow.