Im a little dusty today.. a few too many of the red neds to close the night out was a bad idea!
The market right now is slightly indecisive with regards to direction.. How long this will last is anyone's guess, though some of the best traders will say that its never good to trade when there is no confirmed direction. I will continue to trade, just with much more caution!
It seems that the finance sector was the main cause to the sell off on the DOW last night, so hopefully our market should hold up ok.. lets face it, yesterday was a day to factor in last nights expected fall..
Stocks I will be following today include OKN, LNC, MEO, PRR, COI, MWE, EXS, IVA, JML and BGD
Boulder Steel (BGD) was a great runner yesterday. Spotted it at 2.3c and rode it up past 4c. Took some profits, but decided to load up again on the retrace in afternoon trading. Thanks to a heads up from Roo Roo on the BGD thread last night, he pointed out that this stock trades on the Frankfruit stock exchange.
It had a huge trading volume of 31,884,126 shares, in comparision to the 13,357,200 traded here yesterday on the ASX. It hit a high of 0.028€ (5.7c aud), before closing up 100% at 0.026€ (5.3c aud).
I suspect we will see huge volume again here today, with the opening already looking intersting with IAP 4.2c.
I think 6c is a posssiblilty today, but will be watching it closely for an exit on any weakness.
Here is a chart showing resistance lines (approximates).
