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.
Another up day but still in that box. Maybe another day or two and the box resistance will be breached but I wouldn’t want to jump the gun and get too excited until that happens. If it should happen we then want to see the volume on the break to see if the break was due to speculative enthusiasm or speculators on holiday type of action. With speculators on holiday it then takes very little action to move markets, which is not normally a market move with longevity.
The Merv’s Daily Uranium Index closed higher by 3.38 points or 1.38%. There were 31 winners, 11 losers and 8 thinking of Santa. Cameco gained 0.6%, Denison gained 0.9%, Extract gained 0.8%, Paladin gained 1.2% and Uranium One gained 3.0%. The best daily winner was Crosshair with a gain of 24.3% while the daily loser was Pele Mountain with a loss of 5.3%. Market Vectors Nuclear Energy ETF gained 0.1% while the Global X Uranium ETF gained 0.4%.
Nothing new to report as far as the indicators are concerned. For the short and intermediate term the indicators remain positive and the ratings remain BULLISH.