Kooke, a solid intraday bounce the previous day is a useful clue because it suggests solid buying interest at certain levels but there's no guarantee that history will repeat when markets are in the current tetchy mood. Few of the reversal candidates I flagged this morning look convincing just yet and in most cases it would be safer to buy near the close today or - more cautiously - tomorrow. FWIW I find PDN particularly hard to read as it's also listed overseas and seems to be subject to arbitrage plays due to overnight currency movements.
Can't answer your second question but I'm not aware of a relationship along those lines.
Signs of life in the coal miners. CEY, FLX, AQA and NHC creeping up. I traded CEY this morning and hold NHC from higher levels.
