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.
Again not much to write about today. All indicators and ratings remain as they were yesterday, all BULLISH.
Just one observation, today’s candlestick is very close to what is called a “hanging man”. I say very close as it does not quite conform to a pure reading of the candlestick. Still it is close enough that one might take caution due to its possible interpretation. A “hanging man” candlestick is a bearish candlestick if it is at the top of a bull trend. Just an observation for now but it is interesting.
The Merv’s Daily Uranium Index closed higher by 7.10 points or 2.60%. Looking at it another way it only closed higher by 0.55 points from the opening price to the close so after the open it basically went nowhere. Just another observation. This observation is interesting when one observes that 4 of the 5 largest stocks closed on the down side. Cameco lost 0.1%, Denison gained 0.3%, Extract lost 2.5%, Paladin lost 2.7% and Uranium One lost 0.6%. The best daily winner was Fronteer Gold with a gain of 39.7% while the loser of the day was Global Uranium Fund with a loss of 4.6%. Market Vectors Nuclear Energy ETF gained 1.4% while Global X Uranium ETF lost 1.2%.
Fronteer Gold has sold all of its uranium assets to Paladin and now is being taken over by Newmont Mining. It will be deleted from the Indices on the week-end. Replacement is yet to be determined.