ahh but young grasshoper, look beyond the bid whackers and see the truth..
The problem UWRL faces is that "flippers" are content with quick gains. UWRL is very thinly traded and thus does not have solid support. A very small trade can drop it rather quickly. There are those who have the patience and understand low float dynamics. The stock touched a "mental" resistance and thus traders took profits. The truth tho is that there realy is no resistance. Least we forget it took a measly $10,000 to push it well over 60% in a matter of 30 mins. Now think whats going to happen when the company posts it's audits. Keep in mind, this company has $13M in assets, $5M in equity and $3.5M in annual revenues. Now yes, the stock did not break .004. But try buying a decent position tommorrow and watch how little you get ;)
The problem UWRL faces is that "flippers" are content with quick gains. UWRL is very thinly traded and thus does not have solid support. A very small trade can drop it rather quickly. There are those who have the patience and understand low float dynamics. The stock touched a "mental" resistance and thus traders took profits. The truth tho is that there realy is no resistance. Least we forget it took a measly $10,000 to push it well over 60% in a matter of 30 mins. Now think whats going to happen when the company posts it's audits. Keep in mind, this company has $13M in assets, $5M in equity and $3.5M in annual revenues. Now yes, the stock did not break .004. But try buying a decent position tommorrow and watch how little you get ;)
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