Three items on today's brief
1. CYT Update
2. AVX coverage soon
3. Technical Analysis RoC
1. CYT Update
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CYT was analysed in Oct 07 with recommendation to buy up to 55c. Today's bid, offer is 47c vs 51c - a difference in opinion between buyers and sellers. Interesting news today is that Acom Capital doubled their shareholding in CYT and now holds about 12.7% (up from 11.2%). Other news since the original coverage include the commencement of PhII trials and raising of $5m capital. Recommendation is unchanged.
2. AVX coverage soon
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Avexa announced the commencement of PhIII trials. The share price increased but have not leaped yet. It has over $70m in cash and last quarter cash burn was about $5m. Looks promising. Coverage to be initiated soon - the figures here will be finalised later.
3. Technical Analysis RoC
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Rate of Change indicator for technical analysis does seem to be a leading indicator. Note that different stocks need different "days" for the Rate of Change (RoC). The following 2 gold stocks CRK(10days), DGR are at the turnaround point, ie. RoC graph crossing the zero level - signal to watch and prepare for action. If it crosses to positive - go Long, if crosses to negative - go Short.
More detail of this method to be explained later.
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