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.
It looks like speculators are still not brave enough to be getting back into the uranium stocks even though there seem to be some pretty good bargains now. The Daily Index did start the day on the up side but didn’t go very far before turning around and heading lower. It seems to be interested in turning but can’t quite make up its mind yet. One encouraging feature of the day, and we always try to find something to encourage us, was that the daily low did not make a new low but was at a higher level than yesterday. A small plus but anything will do.
The Merv’s Daily Uranium Index closed lower on the day by 8.13 points or 4.19%. There were 11 winners, 37 losers and 2 stocks still not knowing where to go. Cameco lost 8.2%, Denison lost 2.6%, Extract lost 4.6%, Paladin lost 6.9% and Uranium One lost 5.6%. The best winner of the day was Forsys Metals with a gain of 17.6% while the loser of the day was Terra Ventures with a loss of 16.9%. Market Vectors Uranium + Nuclear Energy ETF lost 1.0% while Global X Uranium ETF lost 6.6%.
No change in the indicators or ratings. All time period ratings remain BEARISH. As for the immediate direction of least resistance, I’ll go with the up side again until I get it right.