daytrade diaries... july 20, page-3

morning guys,

last week will certainly be a hard act to follow, but with commodity prices up nicely again on friday night look for momentum to continue in some of the spec names.


the fantastic four spec watch:


PRR - currently in a trading halt, with the company due to announce a new cornerstone US investor to help fund development of their ovarian cancer treatment, in regards shareprice movement a lot will depend on the terms and quality of the investor they attract.


CTP - having got the $30 million cap raising out of the way, the company can now focus on exploration, and with some huge gas targets in central australia, CTP is certainly one to watch as exploration ramps up over the next two months.


PDY - still awaiting iron ore exploration results from their midwest tennements, and as highlandlad highlighted this morning the fundamentals for iron ore are once again improving, could be a big mover if exploration news is positive given their proximity to both MMX and Sinosteel.


RCP - the company has news due on two fronts, firstly the Redbank Copper Project scoping study, which is likely to show robust operating cashflow thanks to the highgrade shallow nature of the resource. And secondly and potentially more significant the first round of exploration results from their highgrade copper tennements. Judging by the volume spike late on friday it wouldn't surprise if some news has leaked from the drill site given the use of the XRF nitron equipment gives almost instant assay results. Wouldn't surprise to see it test 3c in the next day or so.


in this current trading environment there are so many specs worth watching, the key is keeping an eye out for high liquidity and momentum.


as always DYOR.