UCM 0.00% 1.4¢ uscom limited

Nah actually wasn’t joking but perhaps I am wrong. I checked the...

  1. 515 Posts.
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    Nah actually wasn’t joking but perhaps I am wrong.
    I checked the market depth this morning at 10.15am and was encouraged there was over 1 million shares bid for at 13c including one buyer wanting 500,000 that had been there for over a week.
    I checked again at 12pm and the buying support and the 500,000 buyer had disappeared.
    They started the day with over a million shares bidding at 13c and ended the day with less than 200,000 shares wanted.
    I understand very few traded today but the strong buying support that had built up at 13c just vanished.
    No - I have no intention of buying back in (my first sale was a significant stop loss) so not going back until some real good sales and revenues news is announced.
    If that actually ever happens then yes I will re enter again in an instant.
    I think the net asset backing of the company is 13.5c so it’s fundamentally very cheap if the anticipated growth mr Phillips always talks about actually happens.
    I agree it’s bargain basement but learnt my lesson on my stop loss.
 
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