Dear fellow day traders.Today's best bets in my opinion are:PZC...

Dear fellow day traders.

Today's best bets in my opinion are:

PZC - Closed at 4.7c, which is below the 5.3c it opened on the annoucement of the acquisition of the indonesian coal plants. It listed on the German stock exchange at 3.5Euro cents yesterday. The trading range of the stock since the annoucement has been from 4.6c to 6.1c. I expect PZC to remain within this trading range for the short term, but it should break out when further news comes re the current drilling going on in Asia plus the due diligence the company is currently undertaking. If it can get past 5.1c looks bullish, then the next resistance level is 5.5c.

NAD - Annoucement yesterday re the cap raising, which sounded enticing, was not well received by the market with the price of NAD falling from 5.5c to close at 5c. I think if it can get through its previous resistance of 5.2c we could see another move up towards the 6c level. I still think someone is buying into this, and I think short term it can move past its high a couple of weeks ago of 7.1c. Diamond Joe, is running the show, I don't think he will let the share price fall further without stepping in, as he owns mor ethan 50% of the stock.

BCC - Looks like it is stuck between the 12-14c range for the moment until further news. I think a good buying opportunity at these prices in anticipation of the future drilling and annoucements.

VIL - Added this to my portfolio yesterday after the annoucement. Looks like it has strong momentum. I think if it can move through the 4c range will look veery bullish.

BAS - Well the anticipated gap up yesterday didn't eventuate but, I was not discouraged by yesterday's trading, VWAP was 3.95c which was above the VWAP of Tuesday, when excitement was rampant. Yesterday also had strong volume again about 20 times the daily average, so it seems demand is strong. Will be interesting to see how it goes today, I think it is resembling the situation in July when it shot up quickly to 4c, came back a little and then continued on to the 6c range. I think if it gets through 4.2c, previous high yesterday, then a lot of day traders will jump in again, and could rise quickly with low volume of stock.

OBJ - see my comments yesterday, still need to see if it can break 3c, before a bullish signal, but definitely rejected previous resistance of 2.5c.

Also watching today the following stocks:

DLS, TEX, CTP, AAM, GOA, GBZ, HAO, RNG, RAU, PCC, ARW, NMS, MEO, DDT, CTP.

good luck with your trading.

regards,
David