People, there’s a bullish feeling in the air.

But before we talk about small caps, check out the pic above of the next US NBA star Zion Williamson after injuring his knee.

He blew out his Nikes. And Nike’s cap dropped about, ooh, a couple billion dollars within hours.

Ouch.

Back here, markets have edged higher again, with the ASX Small Ords up 0.47 per cent to 2,741.4 at 12pm EST.

The ‘horror of late 2018’, when the small ords quickly slumped to 13-month lows, is becoming a distant memory.

Check this out:

The ASX Small Ords index over the past 12 months.

The spot gold price was near US$1,326 an ounce in late US trade yesterday, while iron ore fell by US60 cents or 0.7 per cent to US$86.70 a tonne.

Here are the biggest winners (and losers) at lunch Friday February 22:

GOING UP

Almost a year ago Triangle (ASX:TEG) and Norwest Energy (ASX: NEW) said they had a candidate lined up to survey their fruitful new oil find, Xanadu.

Today, the companies said they finally got State Government permission to do said seismic survey.

The share price result was a goodun’ for Norwest, which immediately jumped 50 per cent to 0.3c.

Triangle was less fortunate, gaining only 4 per cent to touch 13c in the first minutes of trading.

And Online carsales company iCar Asia (ASX: ICQ) has touted its top-line revenue results, which increased by 27 per cent to $11.6 million for the year.

Investors were relatively happy with the result, sending the stock up nine per cent in morning trade to 12 cents per share.

After-tax losses increased slightly to $13.606 million, although $2.64m of foreign exchange gains pegged the net loss back to $10.928m.

Here are the best performing ASX small cap stocks at 12pm Friday February 22:

 

ASX Code Name Last price Percentage change Market cap Volume
GLA Gladiator Resources 0.002 100% $2,200,000 23.8M
RD1 Registry Direct 0.02 67% $2,600,000 30.0k
DTR Dateline Resources 0.003 50% $13,100,000 960.0k
NWE Norwest Energy 0.003 50% $6,800,000 4.3M
NTC NetComm Wireless 1.04 47% $151,500,000 4.7M
CLZ Classic Minerals 0.002 33% $5,400,000 6.0M
SRO Shareroot 0 33% $3,100,000 700.0k
AHN Athena Resources /Australia 0.01 30% $3,500,000 746.7k
DDT DataDot Technology 0.01 29% $7,300,000 9.2M
CT1 CCP Technologies 0.01 25% $3,600,000 25.8k
LRS Latin Resources 0.0025 25% $5,800,000 2.6M
MGT Magnetite Mines 0.005 25% $3,700,000 500.0k
NVO NVOI 0.005 25% $2,100,000 500.0k
P2P P2P Transport 0.51 24% $42,000,000 173.2k
EM1 Emerge Gaming 0.02 23% $8,800,000 37.6M
HNR Hannans 0.01 22% $21,900,000 11.2M
BOC Bougainville Copper 0.17 21% $68,200,000 2.0k
BWX BWX 1.95 21% $244,800,000 1.8M
CNW Cirrus Networks Holdings 0.03 21% $24,700,000 42.4M
ELT Elementos 0.01 20% $9,200,000 165.0k
RFN Reffind 0.01 20% $3,100,000 100.0k
RMX Red Mountain Mining 0.01 20% $4,700,000 200.0k
VKA Viking Mines 0.01 20% $3,800,000 80.0k
DN8 Dreamscape Networks 0.1 19% $38,900,000 744.6k
PRX Prodigy Gold 0.08 19% $36,500,000 281.0k
CLI CropLogic 0.01 18% $4,400,000.00 31.7M

 

GOING DOWN

Investors were displeased with the half-year update from laser therapy company Ellex Medical Lasers (ASX:ELX), sending the stock down 18 per cent on Friday morning.

Shares hit a four-year low, dropping to 50c shortly after the market opened.

The results weren’t disastrous — revenue rose 9 per cent to $41.6 million — but there was very little change in the company’s bottom line compared with the 2018 half-year.

Here are the worst performing ASX small cap stocks at 12pm Friday February 22:

 

ASX Code Name Last price Percentage change Market cap Volume
T3D 333D 0.006 -50% $881,000 8.0M
MDX Mindax 0.01 -46% $11,300,000 113.7k
SAS Sky And Space Global 0.03 -39% $62,800,000 42.9M
LKO Lakes Oil 0.001 -33% $30,700,000 367.5M
TPD Talon Petroleum 0.003 -25% $3,800,000 500.0k
IP1 Integrated Payment Technologies 0.03 -25% $4,200,000 669.9k
PDI Predictive Discovery 0.01 -23% $2,400,000 13.4M
S2R S2 Resources 0.06 -21% $15,900,000 1.9M
OEX Oilex 0.004 -20% $10,300,000 25.0k
BID BidEnergy 1.11 -17% $126,600,000 1.5M
ISD iSentia Group 0.27 -17% $55,000,000 5.7M
SF1 STEMify 0.005 -17% $2,800,000 25.0k
ANL Amani Gold 0.0025 -15% $7,400,000 729.4k
DCL DomaCom 0.1 -16% $13,800,000 3.3k
SBB Sunbridge Group 0.01 -15% $5,200,000 296k
RGS Regeneus 0.11 -15% $24,000,000 301.3k
TKM Trek Metals 0.01 -14% $1,900,000 290.0k
BAS Bass Oil 0.003 -14% $7,800,000 100.0k
FSG Field Solutions Holdings 0.02 -13% $8,600,000 97.0k

Finally, while reports China is banning the import of Australian coal is not good news for our coal miners, there is this assurance that a long-term ban is unlikely.

Results for coal miners on the ASX were mixed on open – some up and some down – but not by big margins.

At least we’re not in Siberia, where coal be all like: