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.

23 November 2010

Merv's Daily Commentary 23 Nov 2010

After The Close, 23 Nov 2010

Merv’s Daily Uranium Index
Market Data

Open: 219.64
High: 224.29
Low: 216.12
Close: 222.34
Volume: 7460

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

It started the day on the down side but in the end the Daily Index closed on the up side. The volume was still relatively low so that was a negative as one wants to see volume that is greater than recent volume action to show speculative interest on the up side. Right now that speculative interest is somewhat underwhelming. I consider the Index going in a lateral path if the closing price is not above the highs of the last three days. Looking at the Index one can almost imagine the Index going through a topping reversal activity. Whether it is or not it is a time for caution rather than jumping in on the buy side. Wait for positive days with significantly improved volume action.

The Merv’s Daily Uranium Index closed higher by 0.73 points or 0.33%. There were 18 winners, 23 losers and 9 stocks bumming around. Cameco gained 0.2%, Denison was just bumming around as was Extract, Paladin lost 1.1% and Uranium One lost 2.3%. The best daily winner was Forum Uranium with a gain of 26.5% while the loser of the day was U308 Corp. with a loss of 6.7%. Market Vectors Nuclear Energy ETF lost 1.7%.

Once again, the daily action was on the up side and therefore nothing has changed in the ratings. Again, the week-end analysis basically remains valid with all three time periods in the BULLISH camp.

As for the immediate direction of least resistance, I think the Index is in a topping mode so will go with the lateral direction for another day until the topping becomes for evident, or the up trend resumes in a stronger manner.

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