After The Close, 04 Dec 2008
Merv’s Daily Uranium Index
Market Data
Open: 107.88
High: 112.64
Low: 103.34
Close: 106.50
Volume: 6417
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I guess every one is just all tired out after the sharp drop over the past year and must be taking a rest from further activity. The Daily Index continues to move inside that two month old box with no end in sight. So far the internal strength is still encouraging but for how much longer is a good question. Actually, when one understands the workings of this indicator it could keep on moving towards its neutral (50%) line while the Index continues to move sideways. It’s just that it would be very difficult for the indicator to go positive without some kind of encouragement from Index action.
The Merv’s Daily Uranium Index closed slightly lower today by 1.78 points or 1.65%. There were 16 winners, 28 losers and 6 going nowhere. Of the five largest stocks Cameco lost 3.2%, Denison lost 14.9%, Paladin lost 3.7%, Uranium One gained 3.6% and USEC gained 0.5%. The best winner on the day was Western Prospector with a gain of 50.0% while the worst loser was Kodiak Exploration with a loss of 15.9%.
Although nothing much has changed on the intermediate term the moving average continues to move towards the Index trying to keep the gap between the two at a minimum. Any serious move by the Index in an upward direction would quickly breach the moving average although it may take a little longer to turn the direction of the moving average in an upward direction. For now the Index remains below the negative moving average line and the momentum indicator remains in its negative zone, above its still positive trigger line. The volume indicator has dropped below its negative trigger line. The intermediate term rating therefore remains BEARISH.
On the short term we have the same situation with the indicators. The Index remains below its negative sloping short term moving average line and the indicator remains in its negative zone. Here the indicator is now below its negative trigger line. The volume indicator is moving lower below its negative trigger line. On the short term the rating remains BEARISH.
As for the direction of least resistance that would remain to the down side although still not to any serious degree.
Merv’s Daily Uranium Index
Market Data
Open: 107.88
High: 112.64
Low: 103.34
Close: 106.50
Volume: 6417
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
I guess every one is just all tired out after the sharp drop over the past year and must be taking a rest from further activity. The Daily Index continues to move inside that two month old box with no end in sight. So far the internal strength is still encouraging but for how much longer is a good question. Actually, when one understands the workings of this indicator it could keep on moving towards its neutral (50%) line while the Index continues to move sideways. It’s just that it would be very difficult for the indicator to go positive without some kind of encouragement from Index action.
The Merv’s Daily Uranium Index closed slightly lower today by 1.78 points or 1.65%. There were 16 winners, 28 losers and 6 going nowhere. Of the five largest stocks Cameco lost 3.2%, Denison lost 14.9%, Paladin lost 3.7%, Uranium One gained 3.6% and USEC gained 0.5%. The best winner on the day was Western Prospector with a gain of 50.0% while the worst loser was Kodiak Exploration with a loss of 15.9%.
Although nothing much has changed on the intermediate term the moving average continues to move towards the Index trying to keep the gap between the two at a minimum. Any serious move by the Index in an upward direction would quickly breach the moving average although it may take a little longer to turn the direction of the moving average in an upward direction. For now the Index remains below the negative moving average line and the momentum indicator remains in its negative zone, above its still positive trigger line. The volume indicator has dropped below its negative trigger line. The intermediate term rating therefore remains BEARISH.
On the short term we have the same situation with the indicators. The Index remains below its negative sloping short term moving average line and the indicator remains in its negative zone. Here the indicator is now below its negative trigger line. The volume indicator is moving lower below its negative trigger line. On the short term the rating remains BEARISH.
As for the direction of least resistance that would remain to the down side although still not to any serious degree.
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