Monday, December 17, 2007

Santa Claus is coming...

Well, again with the weekend flutter!
The market ended up after the weekends fluctuations. Sunday was the biggest profit take and many stocks closed their positions lower. Big news this weekend with WSE announcing analysis of current IPO's in application.
The major changes at close today: (AMI25%), (AMS-9.8%), (DDE1.9%), (HCL-1.0%), (HOT4.5%), (RDX2.0%), (SSP50.0%) and (SLW-22.5%)

  • Action Mortgage and Investment (AMI) saw major investment over the weekend as the end of the week lows were driven away with over 100k shares snapped up closing on $L0.35
  • A.M. Sportsbets (AMS) flicking like a typical gamblers luck, falling to $L0.06 earlier today only to find support in and around the spread and finished down for the day $L0.10
  • Delicious Demar Enterprises (DDE) cracked the psychological barrier of $L3.00 later today and hovered there for the time being
  • Hope Capital Ltd. (HCL) still managed to linger around the $L1.00 mark with heavy trade volumes throughout the weekend ending the day slightly down on $L0.97
  • Kush Islands (HOT) didn't look in the best shape as news of the CEO Rockwell Ginsberg considering stepping down and the last few days selling off the stock. Too obvious to be untoward, we will attempt to contact before any speculation! The stock managed a rally today ending up at $L2.31
  • Redux Technologies (RDX) with news of the 'upcoming' movements of the CEO saw some confidence in the stock but investors remained cautious (we have seen this before...) closing slightly up at $L1.01 after an early dip
  • Second Street Partners (SSP) gained plenty of ground today with major shareholder Niesh Ames increasing position to 5.04% with over 200k shares changing hands, but the CEO dropped shares without an announcement, leaving the stock poised for a move either way hitting a top of $L0.18 for the day
  • SLWizards (SLW) consistent since it's inception, found itself a victim of the post-SPO blight today with an obvious lack-of-confidence position sought by the traders sending the stock weaker with a similarly weak footing on $L0.79
Recommendations - Plenty of lows over the weekend were capitalised on but I managed to pull out the following:
  • (HCL) the note card sent out to investors of the market highlighted some very important areas for the participants and the future of the exchange. The next few months will be scorchers!!
  • (SLW) if you can snap these up under $L1.00 do it while you can, the price fixers will only loose so much..
  • (SSP) I want an announcement on this one...
  • (HOT) not one for the scary pile, another one an announcement wouldn't harm...
So, sorry about the lower level of optimism, I guess the WSE tightening has got my knickers in a knot!
See you tomorrow,
SW

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