daytrades march 4 pre-market, page-2

Todays Trading Stocks:

Market Direction: Wall Street had a small fall last night which was surprising given that key jobs data came out showing that the economy is failing to create new jobs during the current recovery. Once again the markets appear to be ignoring weak economic data and are wanting to push ahead. Today I expect our market to register a small increase driven again by mining stocks following another reasonable performance by gold and base metals, however I'd be surprised if the increase is the full 20 points that the current futures are showing.

BCN/BCNOA: Yesterday was very bullish for BCN with a bullish Marubozu candle showing the buyers were in control for the whole day. The Bollinger bands have now started to widen indicating that a breakout could be underway. The slow stochastic and RSI are both rising and the MACD has now crossed up. Turnover was high at 49m so the breakout was on very good volume. News Due: Drilling results from the Barlee Gold project. Disclosure: Holding BCNOA

STI: STI announced the acquisition of a near new pharmaceutical manufacturing plant in Canada yesterday and the market reaction was muted, probably due to the 215m placement shares that have just hit the market. The purchase price was CAD$3.6m, payable over the next 30 months. The replacement value is estimated at $20m. This announcement combined with the commencement of revenue generation should be enough to work through the placement shares hopefully leading to a profitable trade. News Due: Launch of the company's pharmaceutical arm in Australia. Results from trials of ImmunoXel on Aids patients in Nigeria. Further details on the development of the company's Inhalation Drug Delivery Platform. Disclosure: No Stock Held

DDT: There have now been two bullish marubozu candles in a row although the volume traded has not been heavy. News that a director bought 500K share on the market at 4 cents was probably the major driver of the move yesterday. Technically the stock now looks excellent. The slow stochastic is rising, the RSI has risen through 50 and the MACD looks set to cross in coming days. Short term resistance is around the 5 cent level but once this is cleared I expect a move to 6 cents should be swift. News Due: Potential announcements regarding the progress towards the development of new products aimed at growing the business. Disclosure: Stock Held