After The Close, 02 Dec 2008
Merv’s Daily Uranium Index
Market Data
Open: 109.49
High: 112.58
Low: 103.77
Close: 107.38
Volume: 4354
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Just can’t seem to get out of the box. It’s been a month now and that is a long time to be moving in a basic lateral direction in such a well defined confines. I keep thinking it can’t last much longer but the Index just keeps its roller coaster ride within the box. Once out it should then be a great ride. Hope it gets out on the up side. The momentum indicator sort of suggests that but let’s wait for the event to happen. More money is lost just be jumping ahead and assuming.
The Merv’s Daily Uranium Index closed lower again today but not by any great amount. The Index closed down 0.65 points or 0.60%. There were 21 winner, 22 losers and 7 going nowhere. Of the five largest stocks, Cameco lost 3.7%, Denison gained 4.2%, Paladin gained 2.2%, Uranium One lost 5.8% and USEC gained 7.9%. The best performer on the day was Lexam Exploration with a gain of 15.0% while the worst performer was Nuinsco with a loss of 25.0%.
With the Index slightly lower again today nothing in the intermediate term has changed. One should, however, note the positive picture that the momentum is giving us, which might foretell the future. Its trend is definitely upwards and during last week’s rally the Index only moved half ways to its previous high while the momentum indicator made new rally highs. For now, however, the intermediate term rating remains BEARISH.
On the short term everything is now negative. The momentum indicator has moved below its trigger line and the trigger has now turned to the down side. As for the Index, it remains slightly below its negative moving average line. The short term rating also remains BEARISH.
The immediate direction of least resistance continues to be to the down side but not with any enthusiasm. The Index could go either way from here.
Merv’s Daily Uranium Index
Market Data
Open: 109.49
High: 112.58
Low: 103.77
Close: 107.38
Volume: 4354
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Just can’t seem to get out of the box. It’s been a month now and that is a long time to be moving in a basic lateral direction in such a well defined confines. I keep thinking it can’t last much longer but the Index just keeps its roller coaster ride within the box. Once out it should then be a great ride. Hope it gets out on the up side. The momentum indicator sort of suggests that but let’s wait for the event to happen. More money is lost just be jumping ahead and assuming.
The Merv’s Daily Uranium Index closed lower again today but not by any great amount. The Index closed down 0.65 points or 0.60%. There were 21 winner, 22 losers and 7 going nowhere. Of the five largest stocks, Cameco lost 3.7%, Denison gained 4.2%, Paladin gained 2.2%, Uranium One lost 5.8% and USEC gained 7.9%. The best performer on the day was Lexam Exploration with a gain of 15.0% while the worst performer was Nuinsco with a loss of 25.0%.
With the Index slightly lower again today nothing in the intermediate term has changed. One should, however, note the positive picture that the momentum is giving us, which might foretell the future. Its trend is definitely upwards and during last week’s rally the Index only moved half ways to its previous high while the momentum indicator made new rally highs. For now, however, the intermediate term rating remains BEARISH.
On the short term everything is now negative. The momentum indicator has moved below its trigger line and the trigger has now turned to the down side. As for the Index, it remains slightly below its negative moving average line. The short term rating also remains BEARISH.
The immediate direction of least resistance continues to be to the down side but not with any enthusiasm. The Index could go either way from here.
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