Forgive the intrusion, but for those leaning towards technical analysis
this may be of interest. Attached is a copy of a free sample (one of ten) of a new
and well written newsletter focusing on "technical analysis". Thought you might be
interested as it includes a brief commentary on Winspear.
If you're interested in the newsletter you can catch up on all the free sample
issues at their web-site.
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=============== TECHNICAL REGISTER: August 14/98 ==================
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The Technical Register
By Mr. Chartist
August 14, 1998
PROMOTIONAL STOCKS AND OTHER BAD NEWS
We added the Promotional Stocks section at the top of this report, as a
change of our usual sequence in response to our "Mail Bag" email. We remind you
that these are thinly traded issues, for trading purposes only and not for
investment. Technical Register does not tout stocks, but refers to the
technicals of the most active stocks trading on these exchanges, generally for
shortsale opportunities. The Technical Register is an independent technical
analysis newsletter, not owned by, or affiliated with, any organization. This
newsletter gives an unbiased, technical outlook on selected most active stocks.
No one affiliated with The Technical Register holds long or short positions in
these companies; no one is paid a fee or stock to mention these companies. The
Technical Register's sole source of revenues comes from subscription sales and
from the sales of Special Traders Reports. Visit our website
stockhouse.com
Our first report, WHEN TO SELL, discusses our proprietary combination of
technical indicators used in our buy/sell decisions noted in this issue. This
report is found on the above website on a pay-per-view basis. Today's issue,
Sample #4, is part of your two-week free trial, of which 6 more issues are to
follow.
Let us know how we can better service your requirements by emailing us at:
ta@stockhouse.com
While we can not individually answer your letters, The Technical Register may
refer to your comments or questions in subsequent issues. Our mission is to
assist your investment decisions by providing you with independent, unbiased
and
consistent technical analysis in the most actively traded stocks on the North
American stock exchanges.
TODAY'S PROMOTIONAL STOCKS:
POLYMET MINING [Vancouver - POM]: Stock shows continued weakness from our
top-reversal call at $1.30 (Canadian dollars/US$0.88) to its current close of
$1.01 (Canadian dollars/US$0.68). Technicals continue to register a SELL
situation, which should test the $0.80 level (C$/US$0.55).
UNIGLOBE TRAVEL ONLINE [Vancouver - UTO]: Stock shows continued technical
deterioration since our initial shortsale observation. UTO's MACD lines are now
also in overbought territory and appear headed for a crossover/decline. The
evening star reversal signal was triggered on Tuesday, after which there was a
negligible attempt to reverse the decline on Wednesday. This failed on Thursday
and UTO should soon test the $1.18 (C$) and $0.90 (C$) support levels.
RIS Res Intl [Vancouver - RIS]: Stock shows strong technicals. We warned of a
Monday reversal, which came. That has been overcome and the next resistance
level RIS should test is $1.75 (C$).
Winspear Resources [Vancouver - WSP]: Stock shows strong technicals. WSP may be
in a rally and could test the $1.60 (C$) resistance level.
NYSE and NASDAQ Most Active Stocks
Updates:
DUPONT (DD). We had earlier warned of a strong reversal signal in this
stock. Thursday's selling climax indicated DD may continue in a severe decline,
once a consolidation has ended.
PHILIP MORRIS (MO). We had earlier warned of a strong reversal signal
in this stock. A selling climax may be forthcoming.
APPLE COMPUTER (AAPL). We had earlier warned that AAPL was overbought.
Today's minor reversal may foretell of an upcoming decline.
MICROSOFT (MSFT). MSFT continues to look technically weak and vulnerable
to further declines, continuing its late July decline. No reversal yet in sight.
IBM (IBM). Technicals show vulnerability in this stock. Possible selling
climax forthcoming.
DELL COMPUTER (DELL). We earlier mentioned that DELL is vulnerable in
this market. Crossover/declines in both the 9- and 18-day exponential moving
averages and the Slow Stochastic lines in upper mid-range indicate a high
probability of a strong dip in the near term.
INTEL CORPORATION (INTC). As mentioned previously, INTC is vulnerable to
a severe decline in the near future. This week's technicals confirm a medium
possibility of a decline over the next 2-3 trading days.
3COM CORPORATION (COMS). A technical reversal signal appeared today:
Slow Stochastic crossover/decline in the upper range. A Japanese Candlestick
reversal, bearish Harami, also appeared. We expect COMS to experience
difficulty
in maintaining its current rally. In fact, it may be over.
AND NOW THE BAD NEWS
Major Market Indices
Generally, the market market indices teeter between Monday's close and
Tuesday's open. It is no wonder that there is apprehension, pessimism and
confusion in today's markets. The Technical Register would like to note that
the
13- and 26-day exponential moving averages remain in a consistent decline.
Rallies reach past the 9-day exponential moving average, fail to close above
that line and then retreat. This is extremely bearish for the major North
American stock exchanges. Wednesday's rally may have been the brightest and
most
optimistic moment in this month's market.
IMPORTANT STATISTIC
The IMF says that Japan's industrial production is to plunge by 5.3% this year
and the country's economy is to shrink by 1.7%. The Japanese government
boasted,
in April, that its economy would grow by 1.9% in FY 1999, which ends next
March.
The optimistic spin is that the IMF says Japan's economy may grow in the second
half of the year.
-- Mr. Chartist
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Note: To discover more about the components of Dynamic Investing, please
visit our new website stockhouse.com and read our
Traders Special Report: When to Sell. This may be one of the most important
reports you will read this year.
____________________________________________________________________________
"ABOUT THE TECHNICAL REGISTER" -- The Technical Register is the final word
on technical analysis. Published more than 200 times per year, The Technical
Register applies an arsenal of technical indicators to evaluate the most
actively traded issues on the North American stock exchanges: Toronto, New
York, NASDAQ, Vancouver, and Alberta. The Technical Register issues buy and
sell recommendations on the most widely watched stocks on these exchanges.
SEE our introductory articles acquainting you to our methods: "When to Sell;
When to Buy." and "An Introduction to the Technical Register" on the web. |
