After The Close, 26 Oct 2010
Merv’s Daily Uranium Index
Market Data
Open: 193.64
High: 198.04
Low: 191.03
Close: 196.52
Volume: 8211
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The rally continues but the short term momentum indicator is providing us with a warning that the move is weaker than previous moves. The indicator is still below its level from a week and a half ago. However, at 79% it is still quite strong, only not as strong as before. A reaction of some sort may be just around the corner. As for some good news we are not at new recovery highs. The daily high has exceeded the previous high daily high from June of 2009 and the daily close has exceeded its previous close from the same time period. Can this rally continue? I sure hope so despite the warning of a weakening in momentum.
The Merv’s Daily Uranium Index closed higher by 2.36 points or 1.21%. There were 30 winners, 17 losers and 3 stocks just hanging around. Cameco gained 0.6%, Extract lost 2.8%, Fronteer gained 4.4%, Paladin lost 0.2% and Uranium One gained 1.2%. The best winner of the day was Wealth Minerals with a gain of 20.7% while the loser of the day was RPT Resources with a loss of 11.1%. Market Vectors Nuclear Energy ETF gained 0.5%.
Since my last full analysis and ratings nothing has changed in the indicators to cause a concern. The ratings all remain BULLISH for the short, intermediate and long term.
Merv’s Daily Uranium Index
Market Data
Open: 193.64
High: 198.04
Low: 191.03
Close: 196.52
Volume: 8211
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The rally continues but the short term momentum indicator is providing us with a warning that the move is weaker than previous moves. The indicator is still below its level from a week and a half ago. However, at 79% it is still quite strong, only not as strong as before. A reaction of some sort may be just around the corner. As for some good news we are not at new recovery highs. The daily high has exceeded the previous high daily high from June of 2009 and the daily close has exceeded its previous close from the same time period. Can this rally continue? I sure hope so despite the warning of a weakening in momentum.
The Merv’s Daily Uranium Index closed higher by 2.36 points or 1.21%. There were 30 winners, 17 losers and 3 stocks just hanging around. Cameco gained 0.6%, Extract lost 2.8%, Fronteer gained 4.4%, Paladin lost 0.2% and Uranium One gained 1.2%. The best winner of the day was Wealth Minerals with a gain of 20.7% while the loser of the day was RPT Resources with a loss of 11.1%. Market Vectors Nuclear Energy ETF gained 0.5%.
Since my last full analysis and ratings nothing has changed in the indicators to cause a concern. The ratings all remain BULLISH for the short, intermediate and long term.
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