daytrade diaries... monday, page-3

Morning all,

We the DOW was once again up on Friday night, albiet only up 5pts. Im finding it hard to believe that the market hasnt had a decent fall in a single session of trading for quite some time.. hmmmmm

I will be following a few stocks today, these include ALZ, IRN, AIO, KZL, MCW, BRM and OEX

I mentioned Oilex Ltd (OEX) on Friday after someone alerted me to it early on. It opened at a premium on Friday @ 26.5c, before hitting a high of 28.5c (resistance), to close at its daily low of 25c. What was interesting was the closing auction. A 580K seller appeared @ 25.5c, as well as a 8749 buyer @ 25c and a 8750 seller on offer @ 25c. The match out was obviously done on purpose, and to hold it down for a reason.

IAP this morning @ 26c.. I think at some stage today the recent high will be tested @ 28.5c. If it breaks then we could very well see 35c in the coming days. With the strength in oil stocks on Friday night in the US, its a good punt IMHO. Time will tell..

Here is the chart.. Closed above resistance @ 25c.



Cheers
Kevi