In my opinion nothing has changed about the level of caution we should be exercising in the markets. Therefore unless a company is on my “strategic hold” list I will not hold positions overnight until the markets stabilise and the trend returns to a positive direction. As usual any stocks I buy at the moment must also have very strong potential for positive near term news.
Todays Picks BCC/BCCO: I was very impressed with how BCC performed yesterday. Given the recent director buying, I suspect that we are on track for a mid November spud in Lee County, with a high probability of success. Also, I suspect that the ramp up of production at the Pompano well is also on track. BCC should be an outstanding trading stock in November with ample opportunities to profit. I have included it as one of my HC picks this month. News Due: Spud date for Lee County well, Announcement of successful production ramp up at Pompano well to 6-7 mmcf/day.
MHM/MHMO: The price fell to 31 cents yesterday on its way to my target of 30 cents or below as placement stock comes onto the market. MHM is still a buy for me below 30 cents and hopefully I’ll pick up a few today. News Due: Completion of the acquisition of the Aluminium Salt Slag plant and progress on the establishment of a silica plant in Tasmania.
CCU: My bid is still down the queue although it looks like I’ll have to move it up again soon if I wish to secure more shares. News Due: Further silver exploration drilling results should begin to flow in coming weeks.
ATI/ATIO: A standout performer yesterday, rising 12.5% or 0.5 cents to 4.5 cents. News Due: Potential new projects to be brought into the company at any time.
Also keeping an eye on goldies with BCN being one of my stocks to watch for November/December.
