daytrades april 7 pre-market, page-2

Today's Trading Stocks

PEN/PENOA: Confirmation of the double bottom did not come yesterday as the stock failed to build on last Thursday's solid performance. The slow stochastic is still rising however the RSI and MACD are now flat. Positive divergence still exists on the slow stochastic and MACD moving averages. A more positive days trade is needed today to convince me that a change in trend is underway. News Due: Further drilling results from the Ross project where 4 drilling rigs are currently operating. Initial JORC from the Lance project is due in April Holding PENOA

OVR: Yesterday was another high volume day for OVR but this time there was a distinct lack of sellers in the 7.5 7.8 range. The result was a significant price move with the stock adding 23.7%. The chart now looks excellent with the slow stochastic rising strongly, although it will probably reach overbought levels today. The MACD crossed yesterday and the RSI rose through 50. The Bollinger bands have begun expanding although the price poked through the top band yesterday. A convincing break through 10 cents would probably see 11 cents or even 12.5 cents hit in the short term. Prices may then retreat to test 11 cents or even 10 cents as a new level of support. News Due: Details of the exploration program for 2010 at the Andrews project in the Yukon, Canada. Disclosure: Holding OVR

SSN/SSNO: Yesterdays progress report on the fracturing operations at the Gene#1-22H showed the company is achieving excellent results so far with flow rates of around 900 BOEPD. The chart looks much better with the slow stochastic crossing up, the RSI rising through 50 and the MACD turning back up towards the signal line. The only caution is that there is a gap between 2.7 and 2.9 cents on the chart. Fracturing of zones 6 through 16 are scheduled to occur during the remainder of this week so the prospect of further should ensure that a high level of interest is maintained in the stock. News Due: Further progress reports on fracturing operations at the Gene#1-22H well due on the 29th March. Details of the upcoming drilling program at Bakken. Disclosure: No Stock Held


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