morning guys,
well not really much to talk about from the US overnight, the DOW somehow managed to stay above its november 20th closing low even though its only by around 4 points.
due to the fact we are now balancing just above previous lows expect a significant breakout shortly, the problem is it could be either up or down and it would be wise not to gamble until the market decides which way its heading.
no secret that gold continues to run with the AUD price now sitting above $1540 oz, watch for SBM to attack the 50c level today, a fair bit of churning yesterday which will have likely to absorbed a fair few of the profit takers.
I continue to like EHL due to the fact they will announce a dividend next week, which will put a floor under the shareprice due to the excellent yield, it also tested the 20c level yesterday and bounced nicely look for a run at 25c over the coming days. I expect EHL to make a similar run to what FXL did yesterday on the back of their dividend announcement.
Two stocks worth keeping an eye on FMG and AIO, with both companies rumoured to be close to receiving substantial equity injection they may provid some good momentum based trading.
One final one, now that the PES directors have recommended the BG takeover offer look for AOE to possibly walk away and have a look at BPT. Look for increased volume in BPT as a perfect trading opportunity.
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