Todays PicksCCU: Yesterday was disappointing and showed that...

Todays Picks
CCU: Yesterday was disappointing and showed that there are still some decent sellers out there with 300K on the offer at 19 at one stage. I sold half my holding on open at 21 cents for a good profit. I’ll look to replace that stock in coming days.

BCC/BCCO: An excellent announcement by the company yesterday showing the Pompano well continues to perform on track. I have researched this stock more over recent days and I really like what I have read. I would imagine that as we get closer to the November drilling at Lee County the level of interest will grow. With stochastics looking to cross and RSI increasing an improving share prices is looming.

RED: The retrace was on yesterday with my target of 12 cents being hit. I’d be surprised if they fall much further. I’ll wait for the indicators to turn positive then I’ll buy some trasders.

GOA/GOAOA: Yesterday was surprisingly quiet given the increase in the gold price. The company has confirmed it will move to compulsory acquisition of the remaining shares in Anomaly Resources so with the takeover now complete we could be in for more news soon. As for the chart it looks like there will be further consolidation around this level before the next move up.

MEU: I could not believe their announcement yesterday about a capital raising. The timing of the way it has been handled has been amateurish. Had they waited for the uranium survey announcement to flow through the price for the raising could easily have been in the 20’s. They were all set to open at 21.5 before the halt came. Anyway it will be interesting to get the final details supposedly today.

ARM: With plenty of sellers around at 44 cents it looks like the share price will retreat further possibly to the next support between 40 cents and 38 cents.

Good luck trading today.