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.

27 October 2010

Merv's Daily Commentary 27 Oct 2010

After The Close, 27 Oct 2010

Merv’s Daily Uranium Index
Market Data

Open: 195.54
High: 197.48
Low: 190.19
Close: 193.69
Volume: 9491

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

Finally a down day. By the looks of the action down was not a surprise. However, it did not look like the Index really wanted to move lower. On a real down day the Index would have closed near its daily low point. Here we have the Index closing just very, very slightly below its daily mid-point of the trading range. Tomorrow should either be another up day or it could be a real down day, completing today’s action.

The Merv’s Daily Uranium Index closed lower by 2.83 points or 1.44%. There were 19 winners, 29 losers and only 2 confused which way to go. Cameco lost 1.5%, Extract lost 3.4%, Fronteer lost 0.5%, Paladin lost 4.6% and Uranium One gained 0.5%. The best daily winner was Khan Resources with a gain of 18.2% while the loser of the day was Rockgate Capital with a loss of 8.9%. Market Vectors Nuclear Energy ETF lost 1.4%.

Nothing has changed in the bullish ratings for all three time periods so I’ll say myself some time. As for the immediate direction of least resistance, That’s a toughie. Despite the daily down close the Stochastic Oscillator has just moved into its overbought zone from which previous reversals or rest periods started. I’ll go with the lateral for another day.

I’m traveling tomorrow so the next post will be during the week-end with the full week-end commentary.

1 comment:

Anonymous said...

Hi Merv,

On the 'fundamental' side, UXC has the spot uranium price up to $52, up $2.75.

I think that most traders are cautious now and will be watching the Nov elections and the FOMC meeting next week in the US. (How many more dollars will the fed print up for QE2?)