daytrade diaries... may 25, page-10

Morning All,

Well with the states closed Monday in the US for a Bank holiday, Im not suprised at all to see a sell off into close on Friday's trading.

A very interesting week coming ahead, particularly in the US with some big economic data been released which will have an impact on the markets right around the world. Below is an extract showing the week ahead, I have circled the big ones!




Today the stocks I will be following include CFU, SLR, GXY, CBH, BGD, NGM, OGC, TSM, SOT, CAH and EXS

Here are a few charts of interest.

Ceramic Fuels (CFU) - Closed @ 19c on Friday. Some tree shaking occcured in late afternoon trade, but some decent buys went though just before and also on close in the auction. IAP 20c now, I have a possible target of 25-29c over the coming days.



Galaxy Resources (GXY)- Closed on Friday @ 72c after trading @ 74-75c all day. I suspect the small sell that went through was someone needing to get out. IAP 75c today, with the sell stack really thin. I suspect this will reach $1.00 in the short term giving the continued strength in lithium.



Exco Resources(EXS) - Saw a huge volume spike on Friday after a presentation was released to the market. After hititng a high of 27c, we saw some profit taking, but what I also believe was accumulation as lots of large sells appeared which were in turn take out throughout the day before closing @ 24.5c. Expect higher prices in the short term IMHO.



Finally, Boulder Steel (BGD) have been in a trading halt over the past 3 days. They suggested in their announcement that further news regarding their 'material announcement' would be announced today. Last trade before the halt was 8.6c, looking forward to the announcement!

Cheers
Kevi