daytrade diaries... november 10, page-11

Good morning fellow day traders.

Thanks Highlandlad for the market wrap. Very exciting day ahead indeed.

My money is in OBJ still, with 100% of my portfolio allocated to the stock.

OBJ - Volume was still strong yesterday, and at one stage people were panicking to buy in at 3.6c yesterday. It did close on its low, but today looks like it will open around 3.3c. I still am of the belief that someone with big pockets or an institution is accumulating. My theory is, they have a large parcel of stock to buy, but they want to get in as low as possible, therefore they have a period of buying during the day, but after that they try and stack the sell side, plus sell some of their shares as well (but in lower volumes than they bought), so the price will retrace and then they can buy more. It just does not make sense to me, that with the average stockholder in OBJ holding shares at a price of above 3.5c, why so many would be willing to sell at losses, given that this stock has so much obvious potential for spectacular gains. This goes against human nature. I could be wrong but this is just my theory.

If OBJ, were to drop to 3.1c or below today, I will definitely be accumulating, even though I already hold close to 3 million shares.

Also I will be following closely the following stocks, with intention to buy in:

ATI, ATN, BCC, BDI, CAA, CCU, GOA, NAD, EXM, SSS, NWE, LRC, MEO, FMS and RSG

I just had one question, if someone could please explain to me in simple terms, since I am a Chartered Accountant by profession, not a trader. I noticed on stocks such as BCC, and OBJ, when I run an interactive chart in Etrade, they give ratios for MACD and DMI. What do these ratios mean? For example OBJ has a MACD of 0.06 and DMI of +52.457. What does this indicate?? If someone wise could please explain this to me I would appreciate it.

I have been trying to get up to speed as much as possible on trading, I borrowed books from my local library, particularly good was Snapshot trading, which highlandlad recommended thanks for that.

have a great day.

David