Todays Picks BCC/BCCO: AS expected the retrace sees to have begun and with offshore markets down sharply I expect the pullback to continue. I’ll be looking to start re-entering around the mid sixes and lower.
MHM/MHMO: Again no change but I am hoping with the market weakness to get a few options in the teens. With markets falling it will become even more tempting for placement stock holders to sell when they get their stock next week.
CCU: A disappointing day yesterday. I sold out my last traders at 22 during the day. I sat on the bid at 20.5 and just failed to get hit. I will lower my mid to 18.5 cents for this morning and then review during the day.
BCN: I have gone on the bid for BCNOA’s under 1 cent just in case sellers start getting silly. I still expect interest to build significantly as the rigs start drilling holes.
DDT: It didn’t go on with the job yesterday but still watching.
WCP: The only stock I entered yesterday with a small trading parcel at 12 cents. I expect that to be under water today.
Good luck today everyone because I think we will need it.
