EBI didn't recover today with a close at $4.40. EBI had an intraday high of $5.25 on the 26/2/2007 and the trend has definitely broken. I highlighted this one as an ASX opportunity looking weak after yesterdays sell off. I'll wait until Monday before deciding on the others that closed below our stop loss.
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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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Everest Babcock and Brown Alternative (EBI)
Good spread between the long and short term group. Count back line has not been broken since uptrend started. Volume may be a bit low, and we have a tight stop loss defined. We'll add this as a trend opportunity, but we could have decided to watch the trading action over the next couple of days and I think we have a tight enough stop.
Last Close $4.75, Stop Loss $4.68.
Regional Express Holdings (REX)
Looks like a potential swing trade based on the Traders Action Zone.
Jubilee Mines (JBM)
Looks like a potential swing trade based on the Traders Action Zone. JBM has higher volume compared to other swing trades I have posted. I'm still in the process of testing this strategy for the ASX.
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