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Gold/Mining/Energy : Winspear Resources
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To: teevee who wrote (25375)2/2/2000 12:24:00 AM
From: bill  Read Replies (2) of 26850
 
Anti-tech types don't read this. Skip past it.

WSP price looks very weak at the moment. It look like it
could start a new leg down.There has been a sharp,
negative cross over in the moving averages. The MACD has
gone negative below the zero line. The RSI is negative.
The OBV was beginning to firm up but now has turned
negative again. The slow stochastic shows WSP is overbought.
None of these except the MA is a particularly strong.
They could be easily shifted to positive. However, when
they all show negative, it is a warning that price could
drop.

What concerns me more at the moment is that for close
to a year that have been lower highs formed. Then last
month there finally was a higher high. That looked like
an upturn. Instead the latest high is a lower high
once again. This follows a new low for the year.

IF the present trend continues, $1.80 looks possible.
Diamondex is tracking WSP with a new low. It is much
more volatile on small volume but 60 cents now looks
possible.

I believe this downtrend could be reversed by ABZ
overcoming its present problem and getting the permits
it needs. If it doesn't and it shuts down for a year
the price of all resource stocks, not just WSP, will
be hammered. The effect will be worse than the effect
of BreX. BreX scared away a lot of investors. But it
was just some people running a scam. Those come and go.
If the federal govt. supports giving control over
resources to self-serving "environmental" and other
groups, no company is going to invest heavily in
exploration. The company and its stock holders take all
the risks and then special interest groups rush in
and take control of the operation.

Teevee, I've read your messages re the WSP and ABZ
relationship and I know where you stand on that. However,
if ABZ is forced to delay for a year, WSP will also
suffer. No company will be safe from the depradations
of the Liberal govts. favorite special interest groups.
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