Universal Energy Corp (UVSE)

[Ben Bien]

BID 0.0121 x 0.0129 ASK

I like the spread here, with the ask greatly outpacing the bid, looks like there are still some longs holding who bought in around 0.02 to 0.015 and some new hands holding UVSE at 0.010 and above. This 0.010 to 0.011 level should be the new floor for now. If we think about it further, it is plausible that the pending vote to increase AS shares has already been priced into UVSE as well as the failed Lone Oak well. The stock is now basing at 0.010 to 0.011 and would need significantly terrible news to sink lower. But considering that two pieces of terrible news and also recent dilution has already sank this stock, it is less probable for it to go lower beyond 0.010. The threat of future dilution due to an AS increase and thus an OS increase has already been factored in when people sold back in July. Now the ASK side consists of people who held before the Lone Oak news and lost some money and those who bought in after the Lone Oak news and hold shares around 0.010 to 0.015. It will only take a strong earnings report and some more small PRs to drive this stock higher. By the way, does anyone know when UVSE's Q2 earnings will be released? I haven't been able to find the date.