After The Close, 15 Dec 2008
Merv’s Daily Uranium Index
Market Data
Open: 117.26
High: 121.23
Low: 110.40
Close: 115.14
Volume: 6360
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Other than the fact that the momentum indicator is still in a positive trend and continuing to show greater strength than the Index, there is nothing here to suggest that the “box” will not be with us for still some time to come. My bet is on the momentum eventually overcoming the hesitation of the Index and the Index finally makes its move upwards. But I wouldn’t put any money on it until it happens. Too many surprises over the past many months to think there may not still be more. Besides, there is still that long term P&F projection to the 50 level to worry about.
The Merv’s Daily Uranium Index closed lower today but only by 1.35 points or 1.16%. The winners and losers basically showed a neutral day with 19 winners, 20 losers and 11 staying put. Of the five largest stocks, they were all over the place. Cameco lost 4.8%, Paladin stayed put, Uranium One gained 4.4%, Uranium Participation lost 2.5% and USEC lost 5.4%. The best winner was Uranium Resources with a gain of 25.5% while the worst loser was Azimut Exploration with a loss of 11.4%.
There has been no change in the intermediate or short term indicators since the week-end analysis. Both remain unchanged with the intermediate term rating at + NEUTRAL and the short term at BULLISH.
As for the immediate direction of least resistance, I will keep that at lateral until some significant daily action occurs.
Merv’s Daily Uranium Index
Market Data
Open: 117.26
High: 121.23
Low: 110.40
Close: 115.14
Volume: 6360
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Other than the fact that the momentum indicator is still in a positive trend and continuing to show greater strength than the Index, there is nothing here to suggest that the “box” will not be with us for still some time to come. My bet is on the momentum eventually overcoming the hesitation of the Index and the Index finally makes its move upwards. But I wouldn’t put any money on it until it happens. Too many surprises over the past many months to think there may not still be more. Besides, there is still that long term P&F projection to the 50 level to worry about.
The Merv’s Daily Uranium Index closed lower today but only by 1.35 points or 1.16%. The winners and losers basically showed a neutral day with 19 winners, 20 losers and 11 staying put. Of the five largest stocks, they were all over the place. Cameco lost 4.8%, Paladin stayed put, Uranium One gained 4.4%, Uranium Participation lost 2.5% and USEC lost 5.4%. The best winner was Uranium Resources with a gain of 25.5% while the worst loser was Azimut Exploration with a loss of 11.4%.
There has been no change in the intermediate or short term indicators since the week-end analysis. Both remain unchanged with the intermediate term rating at + NEUTRAL and the short term at BULLISH.
As for the immediate direction of least resistance, I will keep that at lateral until some significant daily action occurs.
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