After The Close, 21 Oct 2008
Merv’s Daily Uranium Index
Market Data
Open: 115.25
Hugh: 121.22
Low: 109.10
Close: 114.23
Volume: 4547
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It was a negative day for the uranium stocks. Although from the stand point of winners and losers it was quite negative from the stand point of % declines, the average was quite minimal. We continue to trade within that box so nothing significant is happening as far as a trend is concerned. We’re still watching and waiting for the Index to either break on the up side or the down side. In the mean time we go with the indicators.
For the day the Merv’s Daily Uranium Index closed down by 2.62 points or 2.24%. There were 9 winners, 33 losers and 8 unchanged. As for the top five stocks by market value, Cameco lost 4.1%, Denison lost 8.2%, Paladin went nowhere, Uranium One lost 6.2% and USEC lost 1.0%. The best winner on the day was Azimut Exploration with a gain of 15.6% while the loser of the day was Vena Resources with a loss of 19.1%.
On the intermediate term nothing has changed. All the intermediate term indicators I follow on a daily basis are shown in the chart today. About the only positive sign continues to be the momentum indicator trending upwards above its positive trigger line but that in itself has not upgraded the rating. It remains BEARISH.
On the short term we have the same situation as for the intermediate term except that the Index remains slightly above its moving average line with the line remaining in a negative slope. Our rating remains at + NEUTRAL.
The immediate term direction of least resistance is a toss-up. From the indicators it remains to the up side although from today’s action one might go to the lateral trend. I will stay with the up side for another day.
Merv’s Daily Uranium Index
Market Data
Open: 115.25
Hugh: 121.22
Low: 109.10
Close: 114.23
Volume: 4547
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It was a negative day for the uranium stocks. Although from the stand point of winners and losers it was quite negative from the stand point of % declines, the average was quite minimal. We continue to trade within that box so nothing significant is happening as far as a trend is concerned. We’re still watching and waiting for the Index to either break on the up side or the down side. In the mean time we go with the indicators.
For the day the Merv’s Daily Uranium Index closed down by 2.62 points or 2.24%. There were 9 winners, 33 losers and 8 unchanged. As for the top five stocks by market value, Cameco lost 4.1%, Denison lost 8.2%, Paladin went nowhere, Uranium One lost 6.2% and USEC lost 1.0%. The best winner on the day was Azimut Exploration with a gain of 15.6% while the loser of the day was Vena Resources with a loss of 19.1%.
On the intermediate term nothing has changed. All the intermediate term indicators I follow on a daily basis are shown in the chart today. About the only positive sign continues to be the momentum indicator trending upwards above its positive trigger line but that in itself has not upgraded the rating. It remains BEARISH.
On the short term we have the same situation as for the intermediate term except that the Index remains slightly above its moving average line with the line remaining in a negative slope. Our rating remains at + NEUTRAL.
The immediate term direction of least resistance is a toss-up. From the indicators it remains to the up side although from today’s action one might go to the lateral trend. I will stay with the up side for another day.
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