The statistics for my website from the activity graph for my site
www.pikecountywholesale.com reflect a gradual progressive increase in
activity, although alexa shows a spike and drop. My webpage stat's
does not reflect this activity at all. What would explain this?

I have found that although Alexa seems to be pretty correct for larger
sites (ie google, nbc, yahoo sites scoring in the hundreds of hits a
day).. smaller sites tend to be less than perfect in alexa's
assumption of visitors. You may notice spikes due to a lack of
checking on Alexes part for a period of time, and then suddenly
gathering the data and the "spike" would reflect the visitors in the
absense of Alexa's checking. The best means to track your visitors is
to keep a good record of your own stats- don't rely on Alexa even
after you hit the thousands of visitors a day that you are looking
for.

Yeah, one user accessing the site consistently with alexa toolbar can
easy skew the site several thousand in rank in top of the 100,000
list.

Alexa stats are an indication only, raw site logs are the actual
factual data. If you want the facts, ignore Alexa as it can only
gather stats from people who actaully have the Alexa toolbar
installed.