Merv’s Daily Uranium Index
Market Data
Open: 211.14
High: 214.54
Low: 205.11
Close: 210.09
Volume: 9746
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The volume is slowly getting back into its normal range so the panic phase seems to be over. Now, on with the restoration phase.
The Merv’s Daily Uranium Index closed lower by 1.02 points or 0.48%. There were 15 winners, 32 losers and 3 stocks bumming around. Cameco lost 1.8%, Denison lost 2.5%, Extract lost 2.2%, Paladin gained 5.7% and Uranium One gained 0.2%. The best winner of the day was Pele Mountain with a gain of 20.0% while the loser of the day was Powertech Uranium with a loss of 9.3%. Market Vectors Uranium + Nuclear Energy ETF lost 0.3% while Global X Uranium ETF lost 0.7%.
No change in the indicators or ratings again today so everything is still BEARISH. The immediate direction of least resistance remains lateral for today.
5 comments:
"The speculative environment may be such that uranium may be a no-no for some time. We’ll just have to wait and see."
Merv,
Are there any individual uranium stocks you would get back into at this juncture or is it best to stay out of the uranium market until the medium term signals turn positive?
Thanks as always. Have been a long term casual follower.
Rob C.
Chicago
I think the Japan nuke issue is going to be a major problem for the uranium stocks for a while. Radiation is spreading all over the place and nuclear is going to leave the final bad taste in most peoples mouths going forward.
Countries are rethinking their energy going forward. Israel mentioned that natural gas is their choice now instead of nuclear.
I'm done with U308 stocks unless I'm going short.
There will always be a few stocks going against the crowd. However, trying to pick one of those few is raising the odds of failure. Until things stabilize, and that could take months or days, I would sit back and just relax OR go on to something else like the precious metals until they turn negative.
Thanks Merv~
I joined your Precious Metals Central about a month ago and have really enjoyed it.
Rob C.
Chicago
Rob C., Thanks. I wish I owned the site. It is run by a group in the lower U.S. I provide all the information and analysis and they run eveything else.
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