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.
Well, that was a surprise. All indications were for a continuation of the topping process. I guess the week-end advice (posted this morning) was worth what you paid for it. However, although the Index had a good day the indicators are still holding back so I would give it another day or two before changing my prognosis of what’s to come.
The Merv’s Daily Uranium Index closed higher by 7.00 points or 2.52%. There were 38 winners, 7 losers and 5 stocks stunned and didn’t know what to do. Cameco gained 3.8%, Denison gained 8.1%, Extract gained 0.5%, Paladin gained 1.5% and Uranium One gained 2.9%. The best winner of the day was Uracan with a gain of 9.8%, not even a double digit win with a day like today. The loser of the day was CanAlaska with a loss of only 3.0%. The overall market was pretty thin as far as price movement was concerned. Market Vectors Uranium-Nuclear Energy ETF gained 0.8% while Global X Uranium ETF gained 2.7%.
Nothing has change from the analysis posted earlier today. The Stochastic Oscillator is just about to get back into its positive zone but not quite today. All in all I will leave my earlier post unchanged.