After The Close, 09 Dec 2008
Merv’s Daily Uranium Index
Market Data
Open: 109.17
High: 115.20
Low: 106.21
Close: 111.11
Volume: 4089
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The Index seems to have gone to sleep. The activity, as far as the Index is concerned, seems to be non-existent. That box seems to have a strangle hold on the Index and it just can’t get out. Maybe a kick in the rear end will get these stocks to move, maybe not.
The Merv’s Daily Uranium Index closed lower by 0.13 points or 0.12%. There were 13 winners, 28 losers and 9 going nowhere. With such a high loser ratio a 0.12% move by the Index just doesn’t seem right but that’s the way it comes out. The top five were mixed today. I have revised the top five by deleting Denison and including Uranium Participation. The latest market value figures just would not allow continuation of Denison in the top five. Cameco gained 3.0%, Paladin lost 7.0%, Uranium One lost 5.5%, Uranium Participation gained 2.2% and USEC lost 1.6%. The best winner of the day was Wescan Goldfields with a gain of 15.4% while the loser on the day was Nuinsco with a loss of 25.0%.
Absolutely nothing has changed on the intermediate term so no need to go through the routine. The intermediate term remains BEARISH.
A minor change in the short term indicators has not changed the final rating although it has weakened it somewhat. The momentum indicator has once more dropped into its negative zone but remains above its positive trigger line. Otherwise, everything remains unchanged. The rating remains BULLISH for now.
As for the immediate direction of least resistance, that looks more and more like lateral, although I can’t see the Index moving laterally for more than a day or two, and we’re already in day two.
Merv’s Daily Uranium Index
Market Data
Open: 109.17
High: 115.20
Low: 106.21
Close: 111.11
Volume: 4089
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
The Index seems to have gone to sleep. The activity, as far as the Index is concerned, seems to be non-existent. That box seems to have a strangle hold on the Index and it just can’t get out. Maybe a kick in the rear end will get these stocks to move, maybe not.
The Merv’s Daily Uranium Index closed lower by 0.13 points or 0.12%. There were 13 winners, 28 losers and 9 going nowhere. With such a high loser ratio a 0.12% move by the Index just doesn’t seem right but that’s the way it comes out. The top five were mixed today. I have revised the top five by deleting Denison and including Uranium Participation. The latest market value figures just would not allow continuation of Denison in the top five. Cameco gained 3.0%, Paladin lost 7.0%, Uranium One lost 5.5%, Uranium Participation gained 2.2% and USEC lost 1.6%. The best winner of the day was Wescan Goldfields with a gain of 15.4% while the loser on the day was Nuinsco with a loss of 25.0%.
Absolutely nothing has changed on the intermediate term so no need to go through the routine. The intermediate term remains BEARISH.
A minor change in the short term indicators has not changed the final rating although it has weakened it somewhat. The momentum indicator has once more dropped into its negative zone but remains above its positive trigger line. Otherwise, everything remains unchanged. The rating remains BULLISH for now.
As for the immediate direction of least resistance, that looks more and more like lateral, although I can’t see the Index moving laterally for more than a day or two, and we’re already in day two.
hey merv, if you draw the downtrend line from the july 1st hight to the second high, we closed above the trendline for the firt time yesterday, in 5 months. thats a good sign. now a close above the important MA should getting some buying going...
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