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.

13 January 2011

Merv's Daily Commentary 13 Jan 2011

After The Close, 13 Jan 2011

Merv’s Daily Uranium Index
Market Data

Open: 257.56
High: 262.11
Low: 251.59
Close: 256.67
Volume: 9946

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

We’re into a little bit of a bounce in the Daily Index. I can’t call it a rally as the daily action just doesn’t seem to have much steam behind it, at least not up to this point. The aggressive Stochastic Oscillator is just about at the point of entering its overbought zone from which reactions are likely to take place. Should the bounce continue into new high territory I will then reassess this “bounce” and see if I can then call it a rally or bull trend continuation. Until then a bounce it is.

The Merv’s Daily Uranium Index closed higher today by 0.01 points or 0.01%. Almost zero. There were 24 winners, 23 losers and 3 stocks bumming around. Cameco gained 0.5%, Denison lost 1.2%, Extract gained 2.8%, Paladin was just bumming around and Uranium One gained 4.6%. The best winner of the day was Powertech Uranium with a gain of 15.4% while the loser of the day was Pinetree Capital with a loss of 8.0%. Market Vectors Nuclear Energy ETF gained 0.7% while Global X Uranium ETF gained 0.5%.

Nothing in the recent market action has affected the rating for the intermediate term. It remains BULLISH. The short term moving average line confirming.

As for the short term the Index is bouncing up and down above and below its moving average line. Today the Index remains above the line and the line slope remains positive. The short term momentum indicator remains in its positive zone and is now above its positive trigger line. The daily volume action remains weaker than I would like to see it and not really an encouragement for a positive trend. The short term rating remains BULLISH but as yet unconfirmed by the very short term moving average line, which is moving higher but not quite yet above the short term average.

As for the immediate direction of least resistance, I’ll go with the lateral. That has worked most of the time.

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