daytrade diaries... february 15, page-3

Today's Picks

GGP/GGPO/VIL: I expect an update early this week, possibly today, providing more information about how testing is going. Both stocks bounced a little on Friday morning but failed to keep up momentum during the day. The direction in the short term will be determined by news coming out as a result of the testing program. News Due: Final results from testing the lowest interval of the Fausse Point well.

MHM/MHMO: An update is due on the Silicon project by Wednesday this week so I expect MHM will head towards the all time high of 45 cents in the next few days. Technically the stock looks like it is due for a retracement soon with particularly after Friday's candle which failed to hit a new high for this rally so I don't expect too much from today. News Due: An update on the Silica project (Wacker AG) is due by the 17th of February. Plans for exploration on gold and base metal projects located in Tasmania.

ARM: My target of $1.25 was reached on Friday afternoon and it looks like there could be further rises in the next day or so. The chart still looks bullish with the MACD crossing up and the RSI and stochastic still rising. There is a gap down to $1.13 which may get filled at some stage in the next few weeks. Drilling plans should be announced soon which may generate further interest in the stock. The investor relations manager is overseas again conducting more road-shows which will add further to the interest. Drilling results will need to deliver for the current market capitalisation to be justified but when you have such a large strike length the likelihood of good results increases. News Due: Details of upcoming exploration program for the company's Capricorn Manganese project.

ADO: With the CEO overseas this week on business I expect some speculation will creep into ADO again as people weigh up the likelihood of further licensing agreements in the near term. Technically the stock is giving out mixed signals with the stochastic falling, the RSI rising and the MACD looking like it is not going to cross in the immediate future. I'll be watching price/volume activity closely this week because I expect there will be opportunities to trade. News Due: Results from drilling of the Gene #1-22H well.

VLA: This could be a stock to watch this week because interest seemed to increase late last week. Any favourable news from trials against other cancers would regenerate interest in the stock and could easily see previous highs being tested again. News Due: Initial results from trials of Cavatak on other forms of cancers.