Tom Cat, I agree. UBS is showing good strength today. Hasn't really broken out yet, but looks strong. I just bought in, based on the following.
1) Up .05 today (not too much) but bids filling in very nicely.
2) Volume is approaching 700,000 today, where normal volume (of recent) is more in the 200,000 range.
3) Someone at Bolder (house 15) has bought 100,000 shares per day for the past three days.
4) Most trades are going out at the ask. There's a lot of people sitting on bids that aren't just getting hit.
I've played UBS a number of times over the past year or so. This kind of buildup is pretty typical for this stock. Then it has a hard fast run up for a couple of days, and then usually drifts back over a period of a week or so.
Whether this buildup is based on pending news, I don't know. Some were/are expecting further contracts on their conversions to digital, especially since pulling in one big contract with a major radio station in New York. This kind of news would make some sense, since there is a legislated time that all conversions to digital (for radio) must take place, which is coming up in the U.S......can't remember the specific date, but it's sooner than later. I'll go look it up again.
Regards,
Kevin
edit: Bolder just came in buying again, breaking their "typical" 100,000 share buys of the past two days. They're now up 120,000 so far today. |
