daytrade diaries... october 8, page-2

Todays Picks
ARM: Held its ground yesterday but still some selling about. Coming off overbought signals on the charts so I am not buying trading stock at the moment.

CCU: Disappointing yesterdaygiven the strong silver price. Volume did pick up as the day wore on but there seems to be a persistent seller at the 15-17 cent level. I remain very impressed with CCU’s prospects and will continue to accumulate more stock. Froma chart perspective it needs a strong up day on good volume to signal a buy and attract more interest.

MHM/MHMO: The stock fell further yesterday with more to come. Will include again when I get a new buy signal.

BCC/BCCO: I traded BCC from 5.2 to 5.6 yesterday however I still believe that the gap down to 4.5 cents will probably be closed. Will keep watching and trading when the opportunities arise.

NWE: I was planning to trade this on open yesterday but decided there were better risk reward opportunities elsewhere, and it proved to be the correct decision. Will keep watching.

RED: A strong day yesterday on 4.6m shares but we now have a potential double top at 12 cents. I want to see a push though 12 cents today or the price will probably retrace to fill the new gap at 9.6 cents. I didn’t buy any trading stock yesterday.

GOA/GOAOA: Took a small 200K position at 4.9 / 5.0 cents yesterday and will look to buy a few more. I like the potential for quick production here. The retrace from recent highs looks to be just about done and with the takeover nearly through further price action could start soon.

EKM/EKMO: I bought 7 cent options yesterday at 5.7-6.5 cents and plan to hold for the next drilling results. Given there are more drill results to come in the next week or so I expect the level of interest in the stock to increase.

Good luck trading today.