here a write up i got for todays trading
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The market loved the news, driving the stock price up $0.24 - an increase of more than 14% - on 2.8 million shares. UTOG closed the day strong at $1.94, just off the high of the day, which is very bullish indicator for tomorrow!
Congratulations to all those who profited from today's move.
But... we believe this is just the beginning of the uptrend.
This American up-and-coming shale oil and gas producer is going places and will present many opportunities almost daily for investors and day traders to make money.
Below, we'll review of todays trading activity and provide our analysis, but first, here are the 7 key reasons we believe UTOG should be on everyone's radar:
Completion of the Musselshell acquisition.
Two additional acquisition properties in advanced stages of negotiation, with cash deposits already transferred.
An estimated 12.8 million recoverable barrels of oil in just two of those three properties (we can't wait until the resource details are announced about the third property!)
Do the math: 12.8 million barrels of recoverable reserves x $100 per barrel = $1.28 billion! UTOG has only 215 million shares outstanding. $1.28 billion / 215 million... that's well over $5.00
As part of the Musselshell deal, the leaseholder negotiated the option to buy 10 million shares at $3.00 over the next 5 years! What does this tell you about where price is headed?
UnionTown announced a private placement on March 23, 2011 for 1 million shares at $2.50 apiece. Again, this tells us price is going up.
Incredible management. Darren Stevenson drove a billion dollars in business for Royal Dutch Shell before recently joining UnionTown as President and CEO.
We continue to believe that UTOG is significantly undervalued at current prices. If you havent already, drop UTOG onto your ticker screener and radar this stock today.
We are long and strong on UTOG.
Todays Trading Review:
We're compelled to point out the clear manipulation of UTOG's price during today's session by market makers and to alert investors as to why it was a positive sign.
If you haven't already, have a look at the huge trading volume on UTOG put through in the 20 minutes after market close. Nearly half the day's transactions would appear to have occurred during this short interval, rather than during normal market hours.
In our experience, this kind of after-market activity indicates one thing: the market makers were caught short when positive company news hit the wire and buyers began jumping into the stock. When this happens, their defensive move is to hold orders in-house until after the market closes in order to conceal the actual volume level during the day. In doing so, they make it appear as though trading interest in the stock is slow and low.
This tactic can obviously have a dampening effect on price, at least in the short term. But the excellent news for UTOG investors is that, despite their best efforts, the market makers failed miserably.
UTOG rose $0.24 and posted a double-digit price percentage gain!
We understand that market makers are suspicious of fast rising micro-cap stocks. After all, many of these stock are pump and dumps with no sustaining power.
But UnionTown is not in that camp. Today's acquisition announcement was a direct rebuttal to the stock's naysayers in newsletters and message boards. We believe it removes all doubt about UTOG's intention to build a real oil company with actual resources in the ground and cash-flow-generating production.
UnionTown has already announced two addition property acquisitions. Would you be willing to bet against them? In our opinion, the close of these deals and others that CEO Stevenson has said are in the pipeline could easily lead UTOG to double and triple in price. "
look like they have a lot of fight left.
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