daytrade diaries... thursday, page-12

Morning All,

We it was a very very good day for me and I would think many others yesterday. The buying was solid across the board, which I suspect was becuase the fundies liked the break and hold above the 3600 resistance line on the XAO. Also note in the chart below that the market is testing a one year down trend which I think may break given the good news which has been coming out of the US of late.

Here is the XJO chart.

Stocks I will be watching today will be RFE, MDT, INL, CNX, FKP, MEL, LNC, MCW, CXY, ROC, IVA and MCR (I have placed a hyerlink for any where I have done charts up)...I think I will need to purchase another eye to keep a watch on all these stocks..ha ha

Anyway, two stocks I think are worth a punt are Cougar Energy (CXY) and Mincor Resources (MCR). CXY is one of those stocks which looks IMHO undervalued in comparison to their sector counterparts. A post was made by Factfinder today which highlights where it sits amounst its older brothers..

Here is the chart. It closed @ 6.4c yesterday, I think it could easily run to 8c or 9c. The chart shows that the resistance has been broken, so who knows where it will trot off to...



As for MCR, its not a hot sector right now (nickel), though the chart suggests something else may be going on. Volumes are not over the top just yet, but its certainly worth watching. Resistance was broken @ 75c, with a close @ 85.5c yesterday. This could easily run to $1.00 or there abouts..

Good luck today all.. lets hope we get another good day today.

Cheers
Kevi