daytrades march 25 pre-market, page-5

Today's Trading Stocks

Market Direction: With gold and base metals falling sharply overnight the Australian market is likely to retreat today. Trading conditions are still challenging with much of the smaller end of the market not moving and with low trading volumes.

SSN/SSNO: The right hand side of the handle began to form yesterday but for the pattern to remain valid I would not want to see prices fall below 3.1 cents today. Technically the slow stochastic and RSI are rising slowly whilst the MACD has flattened. I expect the indicators to give some positive signals over coming days. News Due: Commencement of fracturing operations at the Gene#1-22H well due on the 29th March. Drilling updates for the Ripsaw well. Details of the upcoming drilling program at Bakken. Disclosure: Holding SSNO

VLA: Prices continued to rise yesterday and the indicators still show that there is some room left for the uptrend to continue. The MACD and RSI are still rising but no where near overbought however the slow stochastic is about to move through 80 so this indicator is showing some caution is warranted. News Due: Progress of Phase I Cavatak trials against various forms of cancer including breast, prostate, melanoma and head and neck solid tumours. Progress of phase II IND application for Cavatak in the US. Disclosure: No Stock Held

ARM: The immediate outlook for ARM is beginning to look bullish. Prices have begun to turn around in the past two sessions however further confirmation is needed. Once prices close above $1.05 it will be fair to say that the head and shoulders pattern which was playing out has failed. The slow stochastic is rising, as is the RSI and the MACD looks set to dross today or tomorrow provided prices continue to rise. News Due: Approval and details of drilling work program for the upcoming exploration on the Capricorn South East manganese project. Disclosure: Holding ARM