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.
Still trying to take a day off, maybe tomorrow. But still, will only give a brief comment as nothing has YET changed from comments of the past few days. Watch that Index, it is just about to break below that third FAN trend line for a blow-off reversal signal. At the same time the intermediate term momentum indicator may be about to break below its overbought line for a solid warning of weakness. As much as I like the direction the uranium stocks are going I do think that they have traveled too far too fast and a rest is very much in order before proceeding. BUT always go with the flow and don’t fight the tape.
The Merv’s Daily Uranium Index closed slightly lower today, by 2.94 points or 1.31%. There were 13 winners, 35 losers and 2 stocks out of the game. Cameco gained 3.2%, Extract wasn’t in the game today, Fronteer lost 6.4%, Paladin lost 1.9% and Uranium One gained 2.0%. The best winner of the day was RPT Resources with a gain of 12.1% while the loser of the day was First Uranium with a loss of 21.2%. Market Vectors Nuclear Energy ETF lost 0.9%.