[Opening Position in US Energy Corp Wyo (USEG)]
Dear Member:
US Energy Corp Wyo (USEG) is in the business of acquiring, developing, and marketing mineral properties and minerals principally in the gold and uranium sectors. The stock price has fallen from its high near $6 last November to current levels well under $3 and qualifies as a bottom fishing candidate. The stock turned up in early May and then drifted below current levels to find a double bottom. The short term uptrend has been accompanied by increasing volume and a positive divergence in MACD. I am going to test the waters by placing a limit order to buy a relatively small position at $2.66.
DISCLOSURE: At the time of publication, I have no position in USEG.
Sincerely,
Bill Kraft
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