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I just noticed that if you go to http://failstodeliver.com/default2.aspx and type in UVSE and look at the fails to deliver charts, the exact time the failures started rising is exactly when the stock price started dropping. I don't think this is coincidental. I am glad to see the stock finally beakout, but I wish the SEC would finally do something about the failures to deliver now that all the new rules are in place. That would really help us out.
NITE is doing exactly the same thing on several other stocks.
NITE seems to be able to pull an unlimited number of shares out of the sky at will to sell at prices just a little lower than anyone else.
The only answer that makes sense is that they are trying to accumilate a large number of shares of these stocks by sacrificing a few shares at low prices. We can only assume their intention is to eventually stop the downward manipulation and let go and make boatloads of money when the time is right.
Very, very strange.
I read that all short sales have to be covered within a FIRM 3 days now. This should make it much more difficult for them to circumvent the legal system now.
I have HTOG and UVSE stock. UVSE has a much smaller operation than HTOG, but they are turning a profit with expotential revenue growth each quarter which is more than you can say for 99% of the OTC stocks.
I think the sudden "rally" we are seeing is NOT from the price of oil. HTOG and UVSE are primarily into natural gas.
I think it is because the heat is finally on the illegal naked short sellers right now and they are letting the stocks like HTOG and UVSE finally have a chance in a free market to at least get back up to their previous levels of a few weeks ago.
The new rule that is coming down so hard on naked short sells applies to ALL stocks in ALL US markets including this one. The NSS are what have really killed the stock market recently including this stock based on the trading pattern we have been seeing on this stock. Hopefully that problem has now been stopped.
Another separate rule has prohibited even legal short sales, but that rule applies only to 700+ financials stocks and will probably only be temporary.
Personally, I think we are seeing this immediate improvement in stock prices as a direct result of the new hard rules against NSS, but the price still has a long ways to go to get back to the price it deserves.
If the new NSS rules stay in place and are enforced, there will be a good buying opportunity here with the potential for profit for quite some time.
Hopefully the NSS BS by the MMs is finally over!!!
With all your touting for short selling, the problem is that only the MMs are allowed to short the pinkies. Of course that's just another in the list of unfare advantage the MMs have over everyone else.
The UVSE management has already stated on numerous occassions that they have contacted the authorities about the rampant NSS that was going on, but no one at the SEC is allowed to say if there is or if there is not an active investigation going on for obvious reasons.
Hopefully the new stricter NSS rules that have just been implimented will act as a stop-gap on this problem until some people & trading firms are prosecuted for their illegal activity.
The SEC needs to impliment electronic monitoring methods that are programmed with a set of rules that generates a list each day of likely violators based on their trading activity and trading patterns.
Those on the list should be required to provide documented proof that their trading activities that day that produced the suspicious patterns were legal. If they do not respond in a timely manner they should receive a substantial and automatic fine for not responding.
Just the fear of having to fully document suspicious trading activities or face an automatic fine should eventually prevent them from engaging in activity that causes suspicious trading patterns to show up.
I an sure this type of solution would never be accepted by the SEC because it is just too simple. I am sure if the solution is under 2000 pages, they would probably never give it a second thought.
The SEC needs to impliment electronic monitoring methods that are programmed with a set of rules that generates a list each day of likely violators based on their trading activity and trading patterns.
Those on the list should be required to provide documented proof that their trading activities that day that produced the suspicious patterns were legal. If they do not respond in a timely manner they should receive a substantial and automatic fine for not responding.
Just the fear of having to fully document suspicious trading activities or face an automatic fine should eventually prevent them from engaging in activity that causes suspicious trading patterns to show up.
I an sure this type of solution would never be accepted by the SEC because it is just too simple. I am sure if the solution is under 2000 pages, they would probably never give it a second thought.
I am sure someone has already posted the info below from other sources, but this news release seems to make it crystal clear that enough is enough when it comes to NSS. Now if they could come up with a way to eliminate all the other unfair and often illegal practices by the MMs that give them an unfair advantage in the marketplace, we would be in good shape and the free market system could start working again.
"WASHINGTON (MarketWatch) -- U.S. securities regulators issued new rules Wednesday designed to protect investors against so-called "naked" short-selling, including requiring short sellers to deliver securities by the close of business on the settlement date and making clear that those lying about their ability or intention to deliver on time are breaking the law. "These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling," said Securities and Exchange Commission Chairman Christopher Cox. Cox was criticized by Senate Banking Committee Chairman Christopher Dodd on Tuesday
for not doing more to prevent abusive naked short selling. "
I hope we are at or near the bootom. I went ahead and picked up another 2 million shares at .0021 to help average down. Got them listed now for $4 a share to keep them out of the hands of the NSS.
I picked up a couple more million this morning at the .0038 dip myself. Got to make up for the losses in my other account when I bought at .017.
I am still long on the other account because with the good financials this company has and with additional gains on the way, it eventually has to recover back to its previous levels.
The news may be IKE. HTOG's shipping facilities are down in Brownsville so Ike will have no ill effects on HTOG's shipping facilities.
On the other hand, the other guys have a ton of off shore wells right in the path of Ike so the price of oil is likely to spike after Ike goes through and this should benifit HTOG.
The fact that OPEC voted to cut production to keep the price of oil up yesterday is probably having a positive effect as well.
For those who did not see it yesterday, here is a quote from an email I received from Raley yesterday morning. This was not a canned response because it addressed specific questions from my email. This makes it sound as though things will stay pretty still at these low levels for a while.
"We are not able to do any “conventional” ( I assume you are speaking about bank) financing at this time due to the debenture agreements. After these debentures are cleared we will certainly look at that option now that we have revenues and positive cash flow. That of course was not an option a year ago when we did the debentures.
We cannot say how long this pressure will remain. It is dependent on the rate of conversions and if a big buying market picks up like happened the first day of July."
I sent Raley an email yesterday and also got the response that appeared to be "canned" within 3 minutes after I sent my email. I sent another email directly to his email address this time rather than to the company's email, and got the following respoinse back within about 10 minutes. Any comments on what he is saying in his email below?
"The response was not “canned”, but was standard to prevent any info that could be considered insider.
We are not able to do any “conventional” ( I assume you are speaking about bank) financing at this time due to the debenture agreements. After these debentures are cleared we will certainly look at that option now that we have revenues and positive cash flow. That of course was not an option a year ago when we did the debentures.
We cannot say how long this pressure will remain. It is dependent on the rate of conversions and if a big buying market picks up like happened the first day of July.
Thanks
Billy Raley
Chief Executive Officer
Universal Energy Corp.
30 Skyline Drive
Lake Mary, Fl. 32746
T - 800.975.2076
C - 407.562.8162
F - 800.805.4561
braley@universalenergycorp.info "
I am not sure if good news will really help at this point or not. The company has already released good autited financials and is showing expotential income growth and turning a profit. What more can you ask for in a penny stock, yet but yet the MMs appear to have total control and keep driving it down.
I've never seen anything like it in my life, but I'm sure it will come back if the MMs ever let it go.
My level II through Ameritrade has been showing a huge gap betwee the bid and ask all day, nothing like the chart you are showing. I guess the problem is with Ameritrade.
Another thing is that the level II numbers showing the current bids and asks in Ameritrade is NOT correct and does not reflect what is actually happening like it normally does on other stocks.
Is anyone seeing this in the level IIs through any other broker?
That's the sad thing about all this.
For a penny stock, UVSE really has no negatives. They just reported good financials and they are making money and turning a profit. Unfortunately, the current stock price does not reflect the real value of the stock in any way.
The only negatives is the illegal market manipulation being done by a few MMs to beat the price down to artifically low levels. Why they are doing this is anyone's guess. Why they are allowed to do this is an even greater mystery.
It is a real shame a few MMs can be allowed to inflict such damage on one of the few decent penny stocks out there.
That being said, if the stock is ever left alone to make its own way in the market, it should really take off with no problem.
If the vote went NO on the AS increase, they would NOT be out of business. The wording you are referring to is simply standard wording that is commonly used in financial and legal documents and is used as a "disclaimer" so to speak.
This company just reported good financials from last quarter with profit, and a good increase in income from additional wells since that was reported.
There are many other ways this company can obtain financing considering their good financials and income.
Companies with far worse financials with no income and no profit are frequently able to get financing for expansion with no problem, so it should be no problem for this company to do the same since they have good financials with expotential income growth and turning a profit.
Now that all or most of the NSS appear to be covered, I think what is happening is that one or more of the large MMs is trying to goble up all the shares they can by manipulating the price down and putting the scare in as many stockholders as possible.
Once the MMs have squeezed all the low priced shares they can get, I think they will finally stop the downward manipulation and let it go up, and they may even start using upward manipulation tactics.
Once they think it is high enough, they will slowly cash out at a handsome profit and then start their short selling again and downward manipulation the cycle will continue all over again... unless someone puts a stop to it.
Until then, all we can do is watch and wait for the inevitable price jump and make our money then. Of course, the MMs will hope the smaller guys will cash out early as the price rises so they can grab more and ride it higher since they obviously have control over when and where the stock goes.
Your reply below doesn't explain what was happening.
Orders much larger than 500 K were going through below my bid with no problem. My order was marked to allow partial fills at any number of shares until it was completed so it should have filled on any number of shares up to the full number.
Also, my bid that was significantly higher than any of the other level II bids, and it was never displayed in the level II current bids list. With this sort of thing going on, how are we to know what the current bid and ask really is?
"500 K shares is a big order for this stock. Shares are very tight. I'm not surprised they gave you a small fill and then let it sit.
IMO you would have a better chance of getting shares by placing smaller orders. "
If anyone has an answer to this please respond.
I submitted a bid for 500,000 shares at the ask. It sat there a while with other small sales going through at the ask, but nothing on mine.
Finally a 5,000 share sale went through on mine, and then a sale went through significantly below my bid, even though my 495,000 share order was still sitting there at the ask waiting to have any part of it filled.
How can this happen?
I agree fully. With the income they have now, I would think it would be easy for them to get alternate financing for their future expansion.
I have been hoping one of the reasons for the delay in the shareholder's meeting might have been to give them extra time to obtain alternate financing so they don't need to increase the number of shares at all, or as quick.
We will find out next week.
Yes, I saw the after hours million share sale.
I have put in various buy orders during the last week during normal trading hours for an amount equal to or more than the current bid and none of them have been filled.
I have also put in several sale orders equal to the current ask and they have not been filled.
Maybe I just happened to place my orders at exactly the wrong time, but I have never had this problem before. It behaves almost as though someone has control over the buys and sells right now.
Has anyone else seen this happen, or did I just happen to place my orders before an up or down price move?
I just realized I left out 1 letter in my previous message which made it very confusing and incorrect.
What I meant to says was:
"HTOGE is what the market changed it to when they were late filing. The idea is that it serves as a bad mark on their name until they file. "
HTOG is what the market changed it to when they were late filing. The idea is that it serves as a bad mark on their name until they file.
I don't know who you use, but with Ameritrade you are a considered a day trader if you do more than 4-5 day trades in your entire account in a week.
If your portfolio value with them is above a certain value (I think it is somewhere around 25-30K), then they let you trade an unlimited number of times per day with no problem.
So far it appears NITE is letting someone else take the lead today... thank goodness!!!
That being said, I hope NITE's manipulation of the price down earlier in the week can be at least partially undone.
Just thinking outloud for a minute...
If the action is voted through on the 2nd during the stockholders meeting, the general feeling is that it will cause the price to at least temporarily drop because of delution.
That being said, it seems to me that the shorters should want this stock to go on a run right now so they can sell short at a high price, then buy to cover when it drops to make big bucks.
Does anyone know how long they have to buy to cover after they sell short?
Today I bought around a million shares at the ask price each time during several different trades, but NITE has what seems like an unlimited amount of stock to sell at a lower ask price than anyone else which never lets it move up.
I noticed today that when someone submits a new sell order with an ask lower than NITE, NITE quickly changes the ask on their existing sell order to be slightly lower. As long as NITE has stock to sell they will be able to manipulate the price sideways or lower. Whether these are short sells or not, I do not know.
I can't help but think they will eventually run out of shares to sell at these prices, but so far NITE seems to have an unlimited supply.
Making it illegal to short penny stocks would solve the problem.
It would let some of these deserving new businesses grow and prosper on their own without being manipulated and put out of business, but that's never going to happen.
Something strange going on that I have never seen before
I submitted a rather large buy request again through Ameritrade at the ask earlier today, but trades continue to occur at prices well below my offer.
Normally the sale occurs within a minute after submitting a buy request at the ask, but not today.
Noticing a ton of very small trade (sometimes less than 3000 shares) being sacrificed way below the MM's ask in level II in an attempt to drive the price down once again today.
Hopefully it will turn around later today when they get their fill of lower priced shares to cover their shorts or hopefully to let it go and let the stock takes its own path without manipulation and make some long money.
Any thoughts on this.
Everything I have seen since the financials came out indicate the value of this stock should currently be about .08.
The financials were excellent with expotential revenue growth occuring and the financials are better than 99.9% of the penny stocks out there.
It is beyond me why the current price is .0185 which is below yesterdays close before the good financials were released.
Or maybe we should not look the gift horse in the mouth and buy more while it is down.
Some have said the new financials indicate HTOG now owns about 77% of the company, while others have posted actual quotes from the financials that indicates just the opposite and that Heartland now owns only 16% of the company?
Can anyone who really knows, please tell us which is correct?
Americanbulls.com has issued a confirmed BUY for UVSE this evening.
They go only by reading the charts with no consideration for news or financials. This plus the good financials coming out at the same time are stacking up to create a very favorable environment for an extended run on this stock over the upcoming days/weeks..
I totally agree.
The management's decision to postpone the stockholder's meeting to give this thing a chance to fly on its own was a very wise decision.
This will really help the stock have a chance to take off before the meeting and it will really help UVSE's position, and in turn that will help the stockholders.
Many day traders get out at the end of the day, so that's why you see several of them selling off for less than an hour ago.
This does make for a good opportunity for non-day traders or those wishing to add to buy in with a last minute bargain.