daytrade diaries... wednesday, page-10

Morning all....

Keen to see the open of BTA for possible direction on IMU and RBY this morning. It may sway my opinion on above.

MEO > As mentioned last night, this has retraced to the 9 cent level and knowing the history (trading) of this company, I feel there remains plenty of upside in coming days with charts showing minimal risk from this level. Downside maybe 8 cents.

WME > Not too bad an announcement this morning and although risk level is higher, the chart suggests further upside with short term target of 18.0

PRU > Fell back to 87 before bouncing to 90+ again. I think it's just matter of time here before $1+. No one can deny the chart is somewhat impressive.

INL > Broke free yesterday and my only concern is how much upside remains? Would need a break on 2.8 but is possible. High side 3.5 from recollection. Usually plenty of dummy buyers and sellers though.

SRK > Yesterday saw a minor bounce from 42 to 45 and still some way to go IMO. Lower risk play within 10 cents of annual low.

Bit of interest in gold today > BDG, NGF, TAM and perhaps HEG later in the day (14.5)

Will keep an eye on PBG and HFA but not expecting too much swing trading today. I'm off after 1pm (AEST) for a client meeting.... hoping for a bit better day than yesterday and a return to normality that we have enjoyed in past weeks.

iPod
PSYCHOLOGIST