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.
Was yesterday the day of a knee-jerk reaction or was it today. We more than made up for yesterday’s loss and then some. WE seem to have decisively breached the upper resistance trend line of the channel. Now, is this going to be a blow-off with a serious reaction to follow or is it to be a strong continuation of a bull market? Only time will tell.
The Merv’s Daily Uranium Index closed higher by 6.34 points or 3.47%. The AVERAGE price of a component stock gained almost double that, at plus 6.12% so the low priced stocks continue to lead the parade. There were 38 winners (the largest number in quite some time), 10 losers and only 2 sleepers. Cameco gained 0.9%, Extract gained 1.6%, Fronteer gained 5.0%, Paladin gained 4.2% and Uranium One gained 1.3%. The best gainer of the day was Uranerz Energy with a gain of 32.3% while the loser of the day was Xemplar Energy with a loss of 8.6%. Market Vectors Nuclear Energy ETC gained 2.3%.
I’ll leave you to look over the chart and short term indicators and try to decipher what to expect tomorrow. I, in my total knowledge of things technical, know exactly what’s going to happen tomorrow and will let you know --- tomorrow.