Market Direction: With little direction from overseas markets I expect today to be a flat day on the markets.
Sectors of Interest: No specific sectors stand out however there might be some interest in gold after the $6 rise overnight.
APH: The stock should come out of its trading halt this morning with news on an acquisition. The major weakness in the company at the moment is what looks to be an unrealised foreign exchange loss which sat at $8.2m at the end of December. Anyway I await this morning's announcement before deciding my next move. News Due: The stock should come out of its trading halt today with news of a material transaction. Disclosure: Holding APH
SSN/SSNO: The breakout from the cup and handle pattern came right on queue yesterday with the price breaking out during the afternoon. This morning should hopefully provide further confirmation. The news flow should start this week with updates on the fracturing operations at the Gene#1-22H well due. The target for this breakout remains at 5 cents. News Due: Commencement of fracturing operations at the Gene#1-22H well. Spud of Ripsaw well. Details of the upcoming drilling program at Bakken. Disclosure: Holding SSNO
MEU: Yesterday was a quieter days trading for MEU with volume declining for the first time in four sessions. There are mixed signals coming from the chart with the MACD rising, the RSI flat and the slow stochastic falling albeit slowly. I'll watch closely for an increase in interest again as the week progresses. A return to 15 cents still seems highly likely in the near future. News Due: Drilling results from the Melton project located near RXM's Hillside project.. Disclosure: Holding MEU
PIE: I managed to get a trade on PIE from 2.4 to 2.8 cents yesterday which was a good result. The price fell away in the afternoon but that was probably related more to the general market weakness than anything else. Further confirmation of the breakout from the pennant is needed today for the target of 4.5 cents to stand. News Due: Decision by Telstra on whether to continue the 2 month exclusivity option. Disclosure: No Stock Held
