While I don't follow UBET as often as I once did, a quick glance of the daily chart (attached) shows decreasing price on decreasing volume (blue circle and red volume trendline) over the last several days (8/17 through 8/22). On 2005-08-22 (Monday), we see both price and volume consolidate around the 20 day SMA (thick blue line on attached price chart). Today (2005-8-23), we see an increase in volume and an increase in price indicating a possible break out. As UBET often correlates quite well with the Price - Volume relationship (thick red lines over price and volume on left side of chart), you may have the beginning of a nice run up in price. MACD Histogram remains positive (and increasing) and The Stochastic Indicator shows positive divergence and returns a level very close to the 80 level. In short, this stock went from a Zero Score to a Seven - the typical pattern for a volume and price break out. While price did retreat from the daily high, this might simply be the result of profit taking. I see no conspiracy here. Just my 2 cents. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=822943>
Thank you both for taking the time to explain explain todays action. Sometimes when you make a bad trade you want to blame someone else. This was a stupid post. Lets end it.