daytrade diaries... december 8, page-24

Good morning fellow traders.

Well over the last couple of trading days I have been selling down my portfolio, to be able to take a break for a few weeks and go over to New York.

Only holding one stock currently and that is PZC.

PZC - Have been following this since around 3c when it was SSS. I have bought and sold during this time, but currently holding stock at average prices between 4.7c-5.3c. In the morning yesterday it was looking very bullish, with strong buying at 5.2c, only to see a 2 or 3 dumps of around 1 million shares which saw the share price close down to 4.7c. I have studied the trading patterns over this stock over the last few weeks, and I think over 50% of the issued share capital has traded hands since the major annoucement re:indonesia on the 23 of November. Since that time, 50% of the capital has traded at prices between 4.6c to 6.1c. I think if it can break 5.5c it could run up quickly again. I have spoken to a few of my friends in the broking industry who have done some research on PZC, and they believe it is worth 10c.

Also, 2 annoucements are due in the next week, 1 re:drilling in indonesia which started 2 weeks ago, and 2 re:due diligence in Indonesia. The company Secretary got back on Friday from Indonesia and the CEO will get back tommorrow. Anyway, it is a bargain under 5c IMHO, just in terms of risk reward ratio.

Also on my watchlist today are:

BCC, OBJ, WCU, GXY, MSR, KIK, NDO, BDR, MST, NAD, MEL, BCN, EGO, GBZ, BOM, MEU, MMX, LNC, FML, LCY, VIL and DRA.

Have a great day and good luck trading.

regards,

David