Universal Energy Corp (UVSE)

[Ben Bien]

You make a good point, and you are right, I know very little about technical analysis, but my comment was not made using technical analysis despite my having said that I was looking at the chart. I was making a highly qualitative and conceptual statement about UVSE's recent momentum since the beginning of this week, so when I said it shows no indication of upward or downward movement I meant that it is in a period of stagnation presently due to the pending nature of the Lone Oak drilling project. I have already noted that UVSE is making higher lows, which does indicate a gradual uptrend. And if in fact I saw that there was NO upward momentum in this stock, then why would be holding my position? I would certainly sell it if it was going to be flat in the near future. My comment about it having NO indication of upward or downward direction was made with respect to its momentum, which has clearly weakened this week. I do see upward momentum, but in the longer term of the next week leading into the end of July. Presently this week we have been in a stagnant period, so when I said I see no upward or downward direction I was speaking strictly about UVSE's lack of movement since the PR release on Tuesday. I do stand corrected by what you said though and yes, you are right, I know very little about technical analysis but I do recognize very basic metrics such as MACD cross over and RSI and candlestick charts. And as for using fundamental analysis, no way! I really don't have a consistent strategy at all, and I trade based on momentum. In speaking about UVSE in terms of momentum, I would argue that it has lost momentum this week but is consolidating during this stagnant period.



Let's gamble.