daytrade diaries... january 14, page-3

Todays Picks

BCC: Initial logging results were released yesterday from the upper sections of the well with several zones of interest being identified . However judging by the markets reaction the market might have misjudged this announcement as being the final results. But read the announcement in detail and it clearly says that they have not reached the anticipated pay zones yet.Whilst I think the options are fully priced at the moment I believe the shares represent good value for a trade at 12.5 cents. 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.

AQR: The amazing run continued yesterday with the stock reaching new highs. It is very hard to judge where the run will end by looking at the charts now because the stock is now in blue sky territory. Speculation about the next round of assay results has the potential to drive prices even higher in coming days. 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: It is worth watching PEN closely in coming days because a cup and handle pattern looks to be playing out. At the moment the formation of the base of the handle looks to be taking place with the breakout at about the 5.1/5.2 level. The target once the breakout occurs would be about 6.4 cents. News Due: Uranium resource estimates for the Lance projects.

ORD: The higher low is still in play although I believe there is still some selling pressure created by shortfall stock hitting the market. Given the volumes going through it should only be a matter of days before this works its way through the system. The stochastic is still rising but the MACD and RSI have both stalled indicating prices may remain at current levels until this surplus stock available at these prices is cleared. News Due: Development plans for the Bauxite project in Laos. Commencement of ground EM surveys at the Copper Flats project.

ADO/ADOO: The licensing agreement signed yesterday with Bangs Laboratories was a major milestone for the company and yesterdays announcement points to further agreements being likely in the near term. First revenues are expected in the first quarter of 2010. Chart wise it is very difficult to say where the price is headed in the immediate future however I see some resistance being likely around the 2 cent level. That being said I believe there is further upside for this company given the likelihood of more licensing agreements being announced in the near term. News Due: Details of further licensing agreements with major market participants.