Here are some updated charts with comments following yesterday's action:
GLF/GLFOB: Yesterday's volume was the highest ever for GLF. I am now upgrading the company to a strategic hold meaning I will hold a large core position plus trading stock. The stock satisfies all my requirements, being excellent management, near term cash flows and projects which can underpin long term growth. Although I believe the gap to 4.8 cents will close in the short term, the four year weekly chart below shows the real potential here. GLF is a different company now and I can see prices in the 15-20 cent range this year.
And now the weekly shows the real potential here.
HOG: With oil up strongly again HOG should be worth watching in the near term
CEO/CEOO: The quarterly released last night gives some decent clues as to what is coming for CEO. The chart says previous highs will be tested, and soon. 5.3 cents is the next target. An acquisition announcement should see that level passed provided it is a good one.
MTH/MTHO: I expect MTH to be a star performer in the next few months on the back of an aggressive exploration on their Hukitta Project, which is scheduled to commence in March this year.
QMN/QMNO: Once Queensland dries out it should be worth keeping a close eye on QMN. I believe that a follow up exploration program will generate substantial interest here leading to new highs. Watching closely.
