UUU made an all time high yesterday. Stocks sometimes make new highs then fall back and retest new highs and go much further. Would you care how you came up with the number 32 for a 3 month chart with a reasonable explanation. Also what do you think would happen to UUU if it wasn't a lackluster earnings report but a stellar report. I think anyone short on this stock could get hurt bad due to the fact this is low volume stock and volume to the upside could drive the price much higher.
I agree completely that this stock could run up much higher on net income approaching 2 million, especially if we get positive guidance along with that.
Today demonstrated another vote of confidence in UUU by investors as, like I predicted it hit the 32 ceiling and redirected downward yet managed to buck the trend intraday and end on higher volume going back up. I"m surprised. I was expecting to see UUU down 2 bucks today.
It looks like we are going to keep our gains until earnings, but I think if we don't get positive guidance along with a bottom line of under 1.5 million, we could see upper mid 20's again for the next few months.
A quarter approaching 2 million with positive guidance is likely to send us to 34-40 in the near term and set us on course for 60 going into 2008.