After The Close, 30 Oct 2008
Merv’s Daily Uranium Index
Market Data
Open: 114.56
Hugh: 119.63
Low: 108.53
Close: 116.28
Volume: 5770
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Every day is looking better and better but we’re not out of the woods yet. The markets are very volatile and could just turn around on a dime. However, let’s enjoy while we can and maybe everything will turn out okay.
The Merv’s Daily Uranium Index closed up for the third day in a row. The Index advanced 4.32 points or 3.86%. There were 29 winners, 16 losers and 5 that don’t know where to go. The rally, what there is of it so far, seems to be losing a little bit of strength but that may only be a temporary thing. Of the five largest stocks all were on the up side, some barely and others huge. Cameco gained 4.8%, Denison gained 42.7% WOW, Paladin gained 3.6%, Uranium One gained 16.3% and USEC gained 0.8%. The best gainer on the day I would have thought would be Denison but in fact it came second, CanAlaska Ventures was on top with a gain of 50.0%. The worst performer was Uranium Power with a loss of 18.5%.
Everything is moving nicely higher on the intermediate term but still much more is required before any change comes to the rating. What I said yesterday applies today. The rating remains BEARISH.
On the short term everything is moving smoothly towards the up side. However, what was said for yesterday has remained unchanged from the ratings stand point. The short term rating remains BULLISH.
As for the immediate direction of least resistance, well that remains to the up side but with caution until that upper box line is breached. The only change on the very short term side is the Stochastic Oscillator which has zoomed into its positive zone and almost into its overbought zone. I guess the first real sign of the Index direction will be for an upside breach of that high from last week. That should set the stage for a breach of the box resistance.
Merv’s Daily Uranium Index
Market Data
Open: 114.56
Hugh: 119.63
Low: 108.53
Close: 116.28
Volume: 5770
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Every day is looking better and better but we’re not out of the woods yet. The markets are very volatile and could just turn around on a dime. However, let’s enjoy while we can and maybe everything will turn out okay.
The Merv’s Daily Uranium Index closed up for the third day in a row. The Index advanced 4.32 points or 3.86%. There were 29 winners, 16 losers and 5 that don’t know where to go. The rally, what there is of it so far, seems to be losing a little bit of strength but that may only be a temporary thing. Of the five largest stocks all were on the up side, some barely and others huge. Cameco gained 4.8%, Denison gained 42.7% WOW, Paladin gained 3.6%, Uranium One gained 16.3% and USEC gained 0.8%. The best gainer on the day I would have thought would be Denison but in fact it came second, CanAlaska Ventures was on top with a gain of 50.0%. The worst performer was Uranium Power with a loss of 18.5%.
Everything is moving nicely higher on the intermediate term but still much more is required before any change comes to the rating. What I said yesterday applies today. The rating remains BEARISH.
On the short term everything is moving smoothly towards the up side. However, what was said for yesterday has remained unchanged from the ratings stand point. The short term rating remains BULLISH.
As for the immediate direction of least resistance, well that remains to the up side but with caution until that upper box line is breached. The only change on the very short term side is the Stochastic Oscillator which has zoomed into its positive zone and almost into its overbought zone. I guess the first real sign of the Index direction will be for an upside breach of that high from last week. That should set the stage for a breach of the box resistance.
No comments:
Post a Comment