daytrade diaries... december 2, page-25

Good morning fellow day-traders.

Well I haven't been able to post on this forum for the past week as I have been having some marital problems with my wife, over my day-trading career. I am a Chartered Accountant in a big 4, but have taken an absence of leave to take up day trading over the past 3 months. Even though I am making more in the market than I was at my work, my wife is scared and unhappy about whether this is a possible career path, and has basically said go back to your previous job or I will leave. Not sure what to do guys, if anyone has any ideas? Am I just having beginners luck, or can I stick to the day-trading?

Anyway I am currently holding 5 stocks.

1. PZC - The old SSS, has changed its name, raised capital and listed on the German stock exchange, I think this stock has strong potential in the short term to run up past the 6c mark and beyond. Its high over the last week was 6.1c. It has been trading in the range of 4.6c to 5.5c over the past 5 days, and I think if it can break through the 5.5c resistance, this could potentially breakout.

2. NAD - Bought into this one last week at 5.2c, which according to the charts seemed to be its resistance level. The shares have been in trading halt for the past few days, but will re-open today with news of a lucrative capital offerring to shareholders at a 20% discount to the share price. I think this will Gap up and could run up to the mid 6c range where it has traded over the last few weeks. If it can break 7.2c, I think we could be in for a breakout towards the 10c level. Diamond Joe, is a genius, unbelievable what he has done in 1 year.

3. BAS - On Young Traders advice, I bought in yesterday, after watching the stock for most of the day, I decided to buy in at 3.9c, and then picked up another parcel on the close at 4.2c. Looks very strong, with a plethora of buyers lining up to buy in. I think this could easily push above the 5c resistance mark and perhaps in the next couple of trading days reach its high of just a few months ago of 7.5c. Thanks young trader, and thanks to everyone else who alerted this to me yesterday.

4. BCC - Still holding a core holding in this stock after selling my trading parcel at 16c. I was very impressed at the way the stock held up yesterday after what could only be described as dissapointing news. I thought the stock would have closed in the red much further but showed great resilience and made me think if this is the way BCC behaves to negative news, what will be the reaction to positive news which should flow in over the next couple of weeks. I willl be looking to buy more on any weakness in share price.

5. OBJ - Still holding a core parcel of shares in this stock, has been trading between 2.5c and 3c over the past 5 trading days. It has rejected 2.5c time and again, so that looks to be its strong resistance point. I would like to see this move past 3.1c before I get more excited about it.

Other stocks on my watchlist to potentially take up positions today are:

RNG, RAU, TEX, GBZ, CCU, AAM, FAS, ROG, DLS, GOA, MST, CTP, MEL, MEO, BCN, VIL, FML, AYN and BLK.

have a great day and good luck trading.

regards,

David Meyer