Chart Watch 2007-03-04

Along with the All Ordinaries, the handful of stocks I have been following have taken a hit this past week. I agree with MATT O'SULLIVAN - SMH article. I'm anticipating further declines but still old a bullish view overall. The market needs to have a shake out to keep investors and share prices inline. With that view CFX, CQT and IDL are being stopped out. We will continue to follow CHC, as it has been the standout performer of the list, and well above it's stop loss.

Below are two charts that support the view that the fall last week looks healthy, and that if it is a correction it has further to fall.





So how are other traders handling the current conditions? Right now I'm cashed up, looking for good buying conditions. I've found this correction profitable so far, having made 2 three day trades with IDL and EVE. I bought both for the same reason that they had both been sold off too much. Other traders took the same view with both stocks rebounding strongly the past couple of days.

Finding strong up trending stocks will be tough, but we'll run the scans early this week and see what is returned.

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Chart Watch 2007-02-24

Added yesterday as an opportunity, CFX reached an intraday high of $2.50. Our stop has been moved one cent higher to $2.40.

Charter Hall - CHC



CHC has been very active over the past couple of days after the release of the first half results which were very encouraging. NPBT increased from $7.8m (1H FY 06) to $16.7m (1H FY 07). A complete list of key activity is outlined in their interim results presentation. Our Stop loss has been moved up to $2.44.

Conquest Miming Limited - CQT



After retracing back to our stop loss of $0.79, CQT has had a couple of higher days moving our stop loss up slightly to $0.795. Long term group still has good separation, and the short term looks to be turning up.

Everest Babcock and Brown Alternative - EBI



Looking very strong, EBI made an intraday high of $5.23 yesterday. Our stop loss has been moved up to $4.95. Separation between the long and short term groups is a nice consistent uptrend with little fluctuations.

Eastern Star Gas - ESG



ESG has been looking weak for the past week and has now closed below our stop loss. The short term and long term groups both are not displaying up-trending characteristics and an exit should be made on Monday. A fund raising was announced during the week at $0.275, which coincided with our stop loss.

Industrea - IDL


CFS Retail Property Trust - CFX

The stop loss for IDL has been moved up to $0.37. IDL's half yearly report was released during the week with the key stats being "Net profit Before Tax up $7.4 million for six months to December 2006" and "Upgraded full year earnings guidance by $2.6 million to $14.9 Million". A lot is happening at IDL and I see further potential in this companies share price.

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Chart Watch 2007-02-04

Bluglass Limited (BLG)



Has had a great run in January, moving up from a low of $0.39 to a high of $0.61. Has just finished its first pull back and looks to be returning to its uptrend.
Last Close $0.58 , Stop Loss $0.55

Conquest Miming Limited (CQT)



Good separation of the short and long term moving averages, looks to have swung back to $0.79 and returning to its trend.
Last Close $0.88, Stop Loss $0.79

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