Morning all, just a few worth watching today, may or may not present DTing opportunity:
ARO & RTL. Both have possible acquisition news coming in ST. Plenty of smoke signals on both.
BML. A lot of trader money was pulled out to chase hot stocks yesterday IMHO. At least the gap is now closed on daily charts. Strong foundamentals, a medium term hold for me at this stage till the next lot of results.
MMZ. Looks like the large accumulator finally decided to let it go. Speculation is now growing among punters on what seems to be revolutionary company-transforming developments to come. Yesterdays surging volume & buyers not afraid to step up (normally they step back if no news to avoid tkt) suggests to me that news is due today. It is my understanding (from the discussion on stock thread) that todays news could be a mkt update re the companys latest venture & possibly include some hints leading to a potential looming major deal. My plan is to be free-carried & not bother trading it at all (not a very savvy DTer myself lol), but this one may soon turn into a good momentum play with many trading opportunities if speculation keeps growing (eg, OBJs SP reaction before Feb when deal with 3M was supposed to be finalized).
SSN. The overnight US action to some extent confirmed my belief that there could be some big boys pushing on our mkt. The US gain seems to be more based on foundamental attribute of the ann while on our mkt, Macq Bank & Pattersons could be doing a little pro work behind. So IMHO there could still be more explosive moves to come on the back of positive ann. But today though, intraday strength could still be quite strong (testing of 3.5 or even 4c likely?), just need to watch if the strength fades away later in the day.
My smoke detector (lol) is also going off on ARX, ECE & ETT, therer incentives for pumping.
Also like MHM, been holding some MHMO in bottom drawer.
GL all
JL
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Morning all, just a few worth watching today, may or may not...
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