daytrade diaries... september 17, page-3

Todays Picks

ARM: Continuing to consolidate recent gains without much of a pullback however further I still expect further positive news will push through resistance towards all time highs. I have a feeling that the 40's will be be hit again today.

BCN: Well the footprints of larger buying that I was waiting for certainly appeared yesterday when large lines of stock in the millions began to go through. This was the signal I was waiting for and therefore I started buying as many BCNOA's as I could. In the end I bought 1.9m options mostly at 1.4 to add to my core holding. Gold breaking being up strongly will help today although the increase in AUD terms is not much.

THX: Still a good potential trade here while waiting for the assay results from the hole TPCRC019 on their Thunderball project. The company has already said they expect the grades to be exceptional and higher than hole TPCRC008 which assayed 5m at 7,600 ppm uranium (that’s 17lb per tonne by the way).

CTP: Happy to hold on here based on the charts and their projects.

IFS: Still showing strength and waiting for any weakness to buy more.

RED: Found this one yesterday by accident when a friend gave me the wrong code to research. Anyway when I looked at the fundamentals I was extremely impressed so bought 310K. Sold half at a profit and plan to keep the rest. The fact that they are so close to committing to a medium sized gold project is a big plus for me. Yesterday was a great breakout on volume. There was a keen buyer who took 4 x 1 million lots at 10 cents one after the other. Worth noting that there was also a seller willing to offload at that price. Anyway I have concluded that RED is significantly undervalued and has now been added to my permanent watchlist.

PDY: Good breakout on decent volume yesterday. In for a trade so we'll see how high it goes today.

Have a great trading day everyone.