After The Close, 12 Apr 2011
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 Daily Index is moving to test that previous low, just above the 170 mark. I would expect the Index to remain above that previous low but would not put any money on it.
The Merv’s Daily Uranium Index closed on the down side today, down 6.20 points or 3.11%. There were only 4 daily winners, 43 losers and 3 stocks bumming around. Cameco lost 2.1%, Denison lost 6.9%, Extract lost 6.7%, Paladin lost 5.4% and Uranium One lost 5.1%. The best winner of the day was Powertech with a gain of 7.7% while the loser of the day was Pitchstone with a loss of 16.7%. Market Vectors Uranium + Nuclear Energy ETF lost 2.7% while Global X Uranium ETF lost 3.8%.
With the negative move on Monday the short term rating went back to the BEARISH side where it remains today. The intermediate term rating has remained BEARISH both days. As for the direction of least resistance, I must go with the down side and see where the Index goes from here.