Saturday, May 19, 2007

Uranium Index, Week 18

No update last week due to various personal reasons.

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This current downtrend is rather strong, because uranium stocks have gone down despite two increases to the uranium spot prices.
Note that the Uranium Futures have also drifted downwards for the past two weeks, although they seem to have stabilized in the past few days.
The overall market still remains in an increasingly overbought state, so there may still be more downside risk in store for the uranium index. The uranium index needs to re-claim the 27000 in order to break the current downtrend. A more likely scenario is range-bound, sideways movement for the next month or two to repair the damage caused by this latest correction.

Index Value: 25,753.46
Best Performers: EMC
Worst Performers: SXR

Uptrends intact: CCO, UEX, EMC, UMN, U

Index Performance:

Week 18: n/a
Since inception: +28.76%