After The Close, 17 Nov 2008
Merv’s Daily Uranium Index
Market Data
Open: 110.62
High: 114.42
Low: 105.71
Close: 109.00
Volume: 6016
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I don’t know how much longer I can keep saying this but we’re still in a box. Today’s action was quite mild from the Index standpoint and the final result was that nothing has changed from the week-end.
The Merv’s Daily Uranium Index closed higher by 97 points or 0.90%. This seems to be in dispute with the direction of the average stock which closed lower by 2.7%. The winners and losers showed this negative move. There were 11 winners, 26 losers and a whole pile of stocks going nowhere, 13 of them. The five largest stocks were mixed with Cameco losing 1.2%, Denison losing 2.8%, Paladin gaining 7.5%, Uranium One losing 11.8% and USEC gaining 3.5%. The best gainer on the day was Forsys Metals with a gain of 29.3% while the worst loser was Alberta Star with a loss of 18.9%.
On the intermediate and short term absolutely nothing has changed in the indicators so I’ll just cut it short and say that for both time periods the rating remains BEARISH.
As for the immediate direction of least resistance that hasn’t changed either although the Stochastic Oscillator is very, very close to moving into its positive zone. I couldn’t quite tell which way was the least resistance on the week-end and that has not changed. However, and this is just a “feel” from looking at the action today, if I was to guess then I might guess the down side is going to take over again. Just a “guess”, but if it proves true it will revert to a “brilliant analysis”.
Merv’s Daily Uranium Index
Market Data
Open: 110.62
High: 114.42
Low: 105.71
Close: 109.00
Volume: 6016
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I don’t know how much longer I can keep saying this but we’re still in a box. Today’s action was quite mild from the Index standpoint and the final result was that nothing has changed from the week-end.
The Merv’s Daily Uranium Index closed higher by 97 points or 0.90%. This seems to be in dispute with the direction of the average stock which closed lower by 2.7%. The winners and losers showed this negative move. There were 11 winners, 26 losers and a whole pile of stocks going nowhere, 13 of them. The five largest stocks were mixed with Cameco losing 1.2%, Denison losing 2.8%, Paladin gaining 7.5%, Uranium One losing 11.8% and USEC gaining 3.5%. The best gainer on the day was Forsys Metals with a gain of 29.3% while the worst loser was Alberta Star with a loss of 18.9%.
On the intermediate and short term absolutely nothing has changed in the indicators so I’ll just cut it short and say that for both time periods the rating remains BEARISH.
As for the immediate direction of least resistance that hasn’t changed either although the Stochastic Oscillator is very, very close to moving into its positive zone. I couldn’t quite tell which way was the least resistance on the week-end and that has not changed. However, and this is just a “feel” from looking at the action today, if I was to guess then I might guess the down side is going to take over again. Just a “guess”, but if it proves true it will revert to a “brilliant analysis”.
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