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Microcap & Penny Stocks : Rande Is. . .FISHING. . [under $1.50]
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To: Rande Is who wrote (2718)9/25/1999 1:24:00 PM
From: Pied Piper  Read Replies (1) of 4766
 
I have been looking at the chart and historical data for USTI and it looks pretty interesting.

If one is into TA the chart kind of shouts that we are starting to break out. However, I am not sure how useful TA is for penny stocks.

What seems more significant is that Friday we went above 10 cents for only the fourth time (since January 1996 anyway, I don't have earlier data). This was without the benefit of any news and, unless something big is unfolding, with won't have news until the next filing in November. Two of the other times we went over 10 cents (May 14, 98 and March 30, 99) came of filing days. The other time was Feb 2, 99 when we went to 15 cents, the all time high (since Jan, 96). Interestingly the preceding day's close was 5 cents and the following day's close was 6 cents. Does anyone know why this happened? Feb 2 was also the second highest volume ever but I cannot find any news around this date.

Talking of volume, I haven't done the calculations but it looks like the average volume for the last two weeks is quite a bit higher than any other two week period. This definitely bodes well for a breakout.

Next week will be interesting. If we go over 10 cents on Monday, it will be the first time we have ever done so on two consecutive trading days. Also, note that we have never closed above 10 cents, so any time we do that should be significant.

Comments on this would be most welcome.

Piper
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