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 the plunge is taking a rest and may even start an advance, which is now expected more and more each day. As I said, I’ll keep expecting it until it comes and then I can say “I told you so”. For now it’s only an expectation.
The Merv’s Daily Uranium Index closed higher by 1.10 points or 0.59%, Yippee. There were 32 winners, 16 losers and only 2 stocks confused. With 32 winners one would have expected a better daily advance but these winners today were mostly the lower priced speculative stocks (many double digit winners) and did not make as much of an impression on the Daily Index, which favors the larger stocks. Tha average price of a component stock advanced 2.54%. Cameco lost 5.8%, Denison gained 4.8%, Extract lost 9.6%, Paladin gained 1.5% and Uranium One lost 1.7%. The best daily winner was Mega Uranium with a gain of 18.4% while Extract was the loser of the day with that 9.6% loss. Market Vectors Uranium + Nuclear Energy ETF gained 3.4% while Global X Uranium ETF gained 0.4%.
Nothing has changed in the indicators or ratings. ALL ratings remain BEARISH for today.
As for direction of least resistance, I continue to think that will be to the up side despite all the bearish news in the various financial press.