3SOF

I sold half the night before earnings, though had no idea earnings were coming 

Anyway, nice bullish hammer today, might add some back.

Quote from: tokyopua on May 16, 2008, 09:07:21 PM
I sold half the night before earnings, though had no idea earnings were coming 

Anyway, nice bullish hammer today, might add some back.

Hi toky

Did you had it?

Update:

A consolidation move like expected:

Quote from: Ramsburg on May 15, 2008, 11:46:10 PM
(...)should be nothing more than a consolidation, which in this case given the stock volatility and the recent upside breakout could be extended a bit more to the downside, lets say around $2.10/$2.00. (...) Despite today's ugly candle, the overall chart pattern for UTVG looks good.(...)

The stock made a low of $2.05 last Friday, between the 2 values I was waiting for, this means a test on the breakout level and a simultaneous test to it's EMA-50 (which worked perfectly as a resistance during the downtrend, and should now work as a support during the uptrend).
Volume was low, and the stock will probably range inside this zone before new developments (2.10/2.75)...

Trading Plan:
HOLD UTVG.OB

Update:

A Form 8-K was out:

Quote29-May-2008
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective May 23, 2008, the Board of Directors of Universal Travel Group (the "Company") appointed Messrs. Jiduan Yuan, Lizong Wang and Liquan Wang as independent directors of the Company, each to serve until his successor is duly elected and qualified.
Mr. Jiduan Yuan is a postgraduate, senior economist and an expert in China Civil Aviation. From 1965 to 1992 Mr. Yuan worked in the Guangzhou Civil Aviation Management Bureau, holding the positions of Transportation Service Director and Vice Chief Economist. From 1992 to 1999 he worked in the South Center Aviation Management Bureau, where his positions included Enterprise Management Director, Communist Committeeman and Vice President.

Mr. Lizong Wang is an experienced strategic consultant with over 10 years of experience as an independent director for numerous companies, whose expertise encompasses leadership and advisory services to business and political organizations. Currently, he serves as an independent director of the Rui De Feng Agrochemical Company, Ltd. and 3NOD Co., Ltd., the first KOSDAQ Chinese company. Since 2001, he has also been serving as Secretary General of Guangdong High Tech Industry Chamber of Commerce, Deputy Secretary General of Guangdong Private Enterprise Cultural Association, and Deputy Secretary General of Shenzhen Tax Administration. In these positions, his responsibilities include providing information, financial consulting, fundraising techniques, and investment services to more than 6,000 members.

Mr. Liquan Wang has an MBA, is a Certified Public Accountant and Senior Partner of Shenzhen Hongxin CPA. Mr. Wang is an expert in General Financial Administration and building of complete and cost effective internal control systems. He has extensive executive experience in corporate strategy, budgeting and tax administration. From August 1994 to January 1999 he served as an accountant and vice head of the financial department at Liaoning Industrial Manufacture Projecting Co., Ltd. (Shanghai Stock Exchange: 600758). From February 1999 to April 2004 he served as financial manager of Shenzhen Guisu Enterprise Development Co., Ltd. (Shanghai Stock Exchange: 600722). From May 2004 to date Mr. Wang has been a Partner of Shenzhen Hongxin CPA.

On May 28, 2008, James R Treacy resigned as a Director of the Company in order to devote time to personal matters. Mr. Treacy's resignation is effective as of May 28, 2008. 

From a technical perspective, no developments yet, UTVG continues to consolidate the recent breakout reacting positively on the 50-EMA. The $2.05 / $2.08 zone is the current short term support. Due to the stock potential volatility I will not set an automatic stop yet, but mainly I just want to see UTVG continuing to trade consistently above its 50-EMA (in order to validate this inversion scenario).

Trading Plan:
HOLD UTVG.OB

UTVG: Reaffirms Guidance for 2008
Tuesday , June 03, 2008 08:37ET

Universal Travel Group Inc. (UTVG) reaffirmed its 2008 full year revenue and earnings guidance. The Company has carefully assessed the impact of the devastating earthquake in Sichuan Province on May 12, 2008 on its business and continues to expect Revenue between US$69 million and US$73million and Net Income between US$12 million and US14 million for the year 2008, not including stock based compensation.

Update:

I can't say I'm enjoying the current developments on UTVG chart, but the upside inversion scenario is still In-Play at this point.

UTVG closed below the 50-EMA and below the breakout area, making a new relative low since the breakout. Near $1.95 we have the ascending support line, and at $1.80 there is the last relative high and prior resistance level which is now also a support.

We're introducing a stop level, not automatic, but based on a close below $1.80, so the new trading plan is:

Trading Plan:
HOLD UTVG.OB, Sell if it is set to close below $1.80

UTVG.OB stopped @ $1.70