daytrade diaries...november 17th part 1, page-4

Todays Picks
BCC/BCCO: T-minus 8 days and another high for BCC of 14 cents. I have revised my pre spud target again to 15-20 cents but in the short term I think there will be a retrace to fill that gap at 10.5 cents. However, in my opinion, the stock is a firm buy at that level. News Due: Confirmation of production ramp up at Pompano well to 6-7 mmcf/day.

MHM/MHMO: The company has announced a SPP at 20 cents, the same price as the recent sophisticated placement, which seems to be equitable for existing shareholders. I hold a few options and will look to buy more on any weakness but have now lowered my entry price to 10 cents for MHMO. With the SPP closing on the 11th of December I feel that there should be a chance to buy the options cheaper than current prices in coming weeks. News Due: Completion of the acquisition of the Aluminium Salt Slag plant and progress on the establishment of a silica plant in Tasmania.

ADN: I was forced to buy yesterday after coming to the conclusion that there is not a lot of SPP stock hitting the market. Knowing that I only have a couple of weeks to get set before the assay results from Rover 1 are announced, I decided to buy in the morning at 26.5 cents. The chart now looks excellent with stochastic, RSI and MACD all rising but no where near overbought. I have a target of 35 cents in the next few days for ADN. News Due: Assay results due in early to mid December from the diamond drill hole at Rover 1 next to Westgold resources discovery. Indications are the grades will be very good.

NWE: I bought a few on and just after open today at 3.2 and 3.3 cents after conducting research over the weekend. The chart looks great now with the stochastic crossing, the RSI above 50 and rising and the MACD about to cross (probably today). Today also finished with a bullish Marubozu pattern where the buyers were in control all day (Open is the days low, closes on the days high). News Due: Seismic interpretation for the UK project.

EXM: Tcheg alerted me to EXM and after reviewing the chart I liked what I saw. I do not hold but have added it to my watch list today. The chart looks bullish with the slow stochastic and RSI rising and the MACD set to cross tomorrow. I have a target of 2.5 cents in the short term.

MEU: The SPP closes today so we should hear results in the next day or so. The chart is looking more positive now with a bottom forming in the 13 – 14 cent range. The MACD looks set to cross in coming days and the RSI and slow stochastic are coming off relatively low levels. More positive results from Junction Dam could see the price rise a few cents very quickly. News Due: Further exploration results for the Junction Dam uranium project. SPP results.

I have a Commsec lunch on today to listen to a bunch of economists speaking so I wont be around for a few hours around the middle of the day but good luck everyone.