the last couple of days showed a clear step up in action in the...

the last couple of days showed a clear step up in action in the most speculative stocks on the ASX, the so called "dogs with fleas section" as YT would put it, this could often be seen as the last euphoric like rise before signaling a market top.

Barnsty put a good XJO chart up late in the week suggesting a possible target of 5140 which would allow one final push before a likely pullback/lull in global markets to allow investors time to digest the direction of the next major market move.

caution needs to be exercised when attempting entries in stocks that have large placement hangovers because certain instos have a habbit of putting on a pump&dump to get themselves/larger clients out of bad positions, if you miss the first volume move stay away because the risk/reward is not worth it.


looking back at the week that was:

PRR/ANP provided a great bio pairs trade, PRR just kept running while any selldown in ANP provided an excellent buy the dip strategy.

KIK/NDO had an excellent week on the back of their upcoming oil drilling campaign with Shell.

GRM/ARD started to emerge as viable trading alternatives for those seeking exposure to the silver sector.

CEO/BDI had good weeks on the back of the Mongolian resource sector link, BDI had an extremely positive close friday and appears to be just starting its upward move ahead of their project acquisition announcement.

ALK/ARU/LYC/PEK/NTU all provided excellent trading ranges in the rare earth sector.

EVG/GOR saw the benefit of subscriber newsletters, great if you already hold but very dangerous if you chase the increased interest VOR a perfect example of this.

TDX/GGE are perfect examples of pumps designed to get instos out of their placement overhangs, great if you spot the volume early but dangerous if you moved too late.


looking forward to be next week:

with gold/silver/oil all surging it will be no surprise to see specs within these sectors lead the charge early in the week.


for me one standout to be holding next week is MXR

yesterday announced they had hit visible gold in drill core over 60 metre interval, love this quote from the company

"The core is currently being logged and processed prior to being dispatched for assay analysis. A high priority has been placed on this core given the significant number of intersections over a 60 metre interval"

it reminds me a lot of an early AVB announcement indicating they had found significant high grade copper hits.

given MXR has a tiny E/V of around $5 million and the current sentiment towards gold/silver is obviously extremely bullish, combined with the fact the company stated further assay results are due next week adjacent to recent high grade gold hits (3m at 30 g/t), the shareprice could well see another significant shareprice re-rating.