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.

08 December 2010

Merv's Daily Commentary 08 Dec 2010

After The Close, 08 Dec 2010

Merv’s Daily Uranium Index
Market Data

Open: 242.56
High: 244.91
Low: 233.01
Close: 237.67
Volume: 12648

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

Well, I guess the momentum indicators can’t continue giving warnings forever without something happening. The Daily Index took a dive today as was being expected, no surprise here. Now the question becomes “when will it turn again, to the up side?”

The Merv’s Daily Uranium Index closed lower by 7.30 points or 2.98%. There were 10 winners, 39 losers and one totally confused. Cameco lost 3.0%, Denison lost 7.5%, Extract gained 0.6%, Paladin lost 2.8% and Uranium One lost 16.7%. The best winner of the day was Rockgate Capital with a gain of 13.8% while the loser of the day was Uranium One with that 16.7% loss. Market Vectors Nuclear Energy ETF lost 1.8%.

The intermediate term momentum warning is now complete. The indicator has confirmed a negative divergence and has moved below its overbought line and below its now negative sloping trigger line. All else still remains unchanged in the intermediate term and the rating remains at a BULLISH level. The short term moving average line remains above the intermediate term line for continuing confirmation of the bull.

On the short term things are a little closer to going bearish, but not quite yet. The Daily Index has closed below its moving average line but the line slope remains positive. The momentum indicator has dropped below its negative trigger line and below its overbought line but still remains in the positive zone. The short term rating has changed but only to the – NEUTRAL level. The very short term moving average line has turned lower but is still above the short term line and not yet confirming any reversal.

As for the immediate direction of least resistance, I will go with the down side as that is the direction all the aggressive indicators are pointing with the Stochastic Oscillator now in the negative zone.

No comments: