Kevi's morning charts 20th Oct

Morning all,

Well it had to be expected sooner or later the fall in the US. Banks have been weak for a while now, and that US dollar looked certain to bounce given the how hard it has fallen in recent weeks.

Still a day like this, us day traders can usually take advantage of the carnage in the first half hour of trade and walk away with some hopefully decent profits. I will ask Al to try and put together a video tonight of some of the examples we see this morning.

Regardless, here are some charts of stocks which performed well yesterday and showed promising signs for today.

Iron Ore Holdings (IOH)

Announced a few days back a large resource upgrade to half a billion tonnes of ore. Intial reaction to the announcement was fairly subdued, however yesterday we saw the interest grow seeing it close on its high of $1.72. Chart is showing a nice breakout, so its definately worth watching over the coming days. NB: Target on chart is only indiciative from a technical aspect, its not a given target.



Altona Mining (AOH)



Aussie Q Resources (AQR)



Azumah Resources (AZM)



CSL Limited (CSL)

A stock which performs when the US dollar strengthens. Will more then likely have a decent bounce from here.



Cheers and good luck today

Kevi