Morning all,As we all know another ugly night in the US.. I cant...

Morning all,

As we all know another ugly night in the US.. I cant help but think that the punters are telling Obama what they really think of his comments by thrasing the market!

I did a few charts up over the weekend.. only a few as I spent most of the time at the beach and damn it was nice.

Here are both the XJO and DJIA chart. I think they are fairly self explanatory, but to put it in words we need to "be very very careful".







I think what also is concerning is the dramatic rise in the VIX over the past two sessions. Its now broken a long term trend, and needs to be watched closely. Fingers crossed it a failed break.



And here are a few other charts of stocks which have me interested.

The first is Mooter Media (MMZ). Had a good day on Friday finishing up 10% to 1.1c. Its one of those stocks which could run really hard when the reins are let go, and having a look at the volume and other indicators this might not be far away. Not my kind of stock to trade, though I grabbed some on Friday just in case we see some action.



One of my longer term holding is Aura Energy (AEE). On Friday hit a low of 15c before bouncing very nicely back to close @ 19c. Sellers appear to be exhausted after the recent spike to 22c, so the next leg up shouldnt be far away giving the results from Africa are imminent. I still think this is way undervalued and has a fair value at current progress of around 50c per share...but I guess thats for the market to decide.




Next is Orocobre Limited (ORE). On Friday I posted an intraday chart suggested it needed to break $1.89. This soon after happened and it quickly raced away to hit a high of $2.15.

This morning the IAP early on is $2.20, and I think it is likely to hit the $2.50 mark in the coming days with ease. Several brokers have put out new 12 month targets of $3.00 in recent weeks so who knows..



and finally I thought I would post the BHP weekly chart. Seems to be showing a bearish rising wedge.. Still holding at the moment, with a break point at around $39.30. Im actually watching it today for a bounce trade, if it doesnt show life quickly after I enter I will be out as far as I went in. There is a big gap to be filled on the daily from the fall on Friday.




thats it for me.. Trade safe and make some good $$$.

Cheers
Kevi

PS and lets not forget IFE as it also still appears to be going higher.