ERHC Energy Inc (ERHE)

[TOB]

Looking at ERHE charts and just going by the H/L/C and the session hours can be deceptive.

Of course it is the 'real' chart for the day, but there is often an inside story when one looks at price action.

For example, in yesterday's ERHE chart we see the big red candle and a close down, looks scary. But in reality there was a significant 400,000 share buy reported 3 minutes after the close which would have been a higher close over the previous day.

Now today, we see a nice green candle closing at the tip at 0.125, looks happy. But if we look at time as sales, we see that last trade at 0.125 was just 200 shares, just $25 dollars. What we call "painting the tape". Without it the last volume was at 0.117, which would have made a small green bar with a large wick. Very different appearance.

To me a 400,000 share order has more significance than a 200 share order.

(Note also that today had all of the price action above the open at 0.11 , but only 114,746 shares traded. Volume is a difficult to read as an indicator, but surely the previous day's 1,346,553 volume gave extra emphasis to that days greatly increase volume.)