daytrade diaries... january 13, page-2

Todays Picks

GGP/GGPO/VIL: The results are in and in my opinion VIL and GGP shareholders have every reason to be optimistic about the future. Logging has shown numerous zones of potential pay with over 300ft of quality hydrocarbon bearing formation being intersected. To add to the logging results the company announced it had picked up an additional 80 acres of ground adjacent to the discovery well. It is clear that VIL has become a favourite of day traders in recent weeks which has been reinforced by the stock often being the most frequently posted stock here on HC. For this reason there are likely to be some traders exiting the stock in coming days as a lull in news flow sets in before testing begins in two weeks. I currently only own GGPO and VIL is firmly on my shopping list before testing begins. The charts indicate softness in price could continue in the near term however I think these should be viewed as opportunities to accumulate. However dont rule out surprise market sensitive announcements at any time as taken from the following quote from yesterdays VIL announcement The results of the logging and side wall cores will be provided to the market as soon as they are fully interpreted. News Due: Production test results from the first Fausse Point well. Details of plans for the location and timing of the next exploration well.

ARM: A new broker report from DJ Carmichael came out yesterday but did not have a price target but only an accumulate recommendation. The price held well yesterday on reasonable volume however I think it may take further positive news to pass the $1.00 mark convincingly. The persistant selling around the 99/100 cent mark from the previous day seems to have exhausted buyers in the short term. The chart indicators are looking fairly stretched so until we get confirmation otherwise it is fair to assume that a consolidation period may be upon us. News Due: Details of upcoming drilling program, further sampling results from fieldwork.

BCC: Drilling will have started again by now and given they were just outside the target zone it shouldnt be too long before hydrocarbon indicators are found if they exist. The last two trading days have produced candles which show the buyers are in control. Indicators still show there is room to the upside however news will most likely set the price direction for coming trading days. News Due: Results from first well at the Lee County project are likely to come in during this week. Confirmation of a successful ramp up of pompano gas production to the target level of 8-10mmcf/day.

UEQ: Whilst volume was lower today the price kept rising and we finished with a bullish dragonfly doji candle, indicating buyers were still in control. The stochastic is starting to look stretched but the MACD and RSI are far from overbought. News Due: Details of upcoming exploration program particularly at Narbarlek. Update on progress of negotiations for the establishment of the first Phosenergy project.

AQR: Well I was away from the screen for a large part of yesterday and missed the run in the afternoon (selling failed to eventuate again). Given the strength of the buying and the fact that the stock closed at its highs I think today should provide a strong start. Since I missed buying in yesterday I will watch from the sidelines for now. From a technical perspective the stock looks stretched especially given it has risen 400% in the past five sessions. News Due: Further assay results for the deeper part of the initial diamond drill hole 94D at the Whitewash South. Based on visuals these results should be good. Assay results from 95D and 96D are also yet to come.

PEN/PENOA: The stock failed to continue its strong upward move yesterday. The stochastic has now crossed down and the RSI is falling indicating that short term weakness might continue on open today. However the channel Robbbbbbb highlighted over the weekend is still in play with a price target of around 7 cents still looking possible in the near term. News Due: Uranium resource estimates for the Lance projects.

ORD: A higher low looks to be forming after yesterdays rise, although the buying in the afternoon lacked conviction. The stochastic has crossed up and the MACD and RSI are both rising, so technically, there are likely to be further rises in the near term. After reviewing the last presentation released by the company along with other announcements I have decided to hold a position in ORD for the time being since I see potential here. Decent projects plus quality management ticks the right boxes for me. News Due: Development plans for the Bauxite project in Laos. Commencement of ground EM surveys at the Copper Flats project.