Morning all,Well we finally saw a green night on the overseas...

Morning all,

Well we finally saw a green night on the overseas markets.. very good news, though it was disappointing to see the DOW night finish on its highs..

To save clogging up ther thread and posting the charts I did last night as I had some spare time, here are the links to them.

MQG
VPE
MPO
MMX
MGR
MGR
GBG
BXB
CDU
AND

Anyway, my pick for today is Molopo Australia (MPO). It is purely a momentum trade, which I think has primarily be brought on by sector demand and interest (from the PES take over. We saw BOW, AOE, ESG and a few others perfrom very well yesterday!

yesterday we saw it rise around 21c to close on its daily high of $1.085. I didnt risk buying under $1.00 as the buying wasnt convincing enough to hold these levels in earlier trade. Ended up getting on board @ $1.04 with a nice parcel.

IAP this morning is $1.11 with some nice bids building. I posted the chart above yesterday with my short term price target of $1.26. In saying that, it could definately go much higher in the short term, with a price target of of $1.45 given by Madmacs on his chart (and he is a bloody legendary chartist)..

And as I said earlier, expect BOW to continue its rise into blue sky territory. Alot of punters are banking on my 75-80c price target for BOW, so please dont shoot me if it doesnt happen... having said that, I reckon $1.00 is possible anyway with such a low market cap!

Good luck today...

Cheers
Kevi