Todays Picks BCC/BCCO: The price held up very well in a terrible market yesterday. In my opinion it is a case of an outstanding near term opportunity shining through. I managed to pick up a few options at 3.3 during the day. The price is now close to testing the uptrend line which started about a month ago. Given the improved market conditions overnight I expect a bounce off that line today. Therefore BCC should present a good trade from the open.
MHM/MHMO: More sellers came out yesterday and with the temptation of a 50% profits for placement stock holders I expect more of the same in the next week. I am still waiting for an initial entry around 30 cents.
CCU: Was on the bid at 18.5 cents yesterday, close to the top of the queue but they didn’t get filled. I’ll look to get some at 20 cents or under this morning.
WCP: The price held up well yesterday only falling a cent. Hopefully it will go on with the upward move following the positive lead from Wall St.
ARW: I bought at 2.1 cents for a trade close to the close. I was impressed with their announcement the day before yesterday so I took a position. Today should see a strong bounce given that they are trading well below the last two day’s VWAP. My target is between 2.5 and 3 cents.
SFR: This share is getting cheap given the potential size of their discovery so I am accumulating stock. The price appears to have finally hit some support around this level and should bounce from here.
Good luck today everyone, it should be a good day to trade.
