good to see a bit of stability in the US overnight, also with commodity prices rebounding expect to see a positive tone to out markets today.
will be interesting to see which spec plays are the focus of the market attentions today.
Spec Watch:
LKO - huge buy order went through just before close yesterday, will be interesting to see if there is positive momentum continues this morning.
PRR - had an excellent announcement on Wednesday in regards staff recruitment has bounced well off the 5c level and will be looking for a continuation of uptrend/increased volume today. (currently holding)
ESI - volume still reasonable, but seems to have lost a little bit of momentum, still a possible bounce trade here, look for increased volume for possible entry point.
NSL - has had a stellar run from 1.3-3.1c in a week on massive volume, had a really soft close last night, might need some positive news from their Indian iron ore J/V to test yesterdays high, if it retreats to the 1.7-1.9c range might be worth accumulating awaiting any news.
PDY - holding well above the 3c level awaiting iron ore exploration results from WA, one to watch given the proximity of landholding to big boys MMX and Sinosteel (currently hold)
RBM - Excellent volume and buyer depth yesterday, all eyes are on the release of their Redbank Copper mine plan and upcoming exploration results. With the market on the look out for the next SFR, RBM is well worth holding given the extremely high grade nature of their previous exploration results. (currently holding and accumulating)
FSE - some positive media reports out of South Africa about their Waterberg coal development, has a history of running out of nowhere, keep an eye out for volume spikes
MLS - should be hearing shortly on their Namibian courtcase outcome, could spike hard on positive news.
Other News:
BLY - Financing update this morning and positive statement in regards quarterly profits. As a traders favourite due to high liquidity it could move significantly today as a result of today's announcement.
SBM - quarterly gold production costs well down on previous quarter's, might see a bounce here as it has been heavily beaten down.
