Here is the transcript which I was able to c&p from the RB thread:
ragingbull.altavista.com
** Don Wolanchuk Interview 8/18/00 **
Don Wolanchuk (Timer Digest's 1999 Market Timer, Gold Timer & Long-term Timer of the Year) interview on today's The Stock Market Observer, a local television stock show in Chicago that he speaks on every Friday at 2:15pm CDT. ( DW= Don Wolanchuk and LM= host Linda Marshall)
LM: Mr. Wolanchuk are you on the phone with us now?
DW: I certainly am, yes.
LM: Hi Don. We were worried about you. LOL. What's happening now?
DW: Nothing. It's like option expiration, respiration.
LM: Yes, respiration. LOL.
DW: And it's summer and everybody's out of town. And you and I are stuck doing this, (LM: LOL) when we would rather be someplace else enjoying what's left of the summer.
LM: Well these markets seem to be stuck too.
DW: Well, let's face it, the bearishness is aMAZing. The Bears are looking for the end of Western Civilization (LM: LOL) and the markets not accommodating them. Never sell a dull market short. (LM: Right.) And that's the rule in this game. And what's so aMAZing is market vane has less than 30% Bulls, or right around there. That's 70% out of the market. And we had over a 1,000 point rally out of the May low and here we see investors intelligence, the number of Bulls shrunk on the advance. Now that's a very rare advance, a very rare event.
LM: What does it mean?
DW: It means that people are fearful of the stock market. And of course it's always been a fear driven market, there's no love lost on this market and that means we're going a heck of a lot higher.
LM: Ah, okay.
DW: You see what I mean?
LM: Yes, I got it. LOL
DW: Don't you love it?
LM: Yes, right, alright. LOL.
LM: You've been following a number of stocks, Valence (VLNC).
DW: Yes, we talked about ImageWare (IW) the last time we were on and it's run from $8 to $13 in the last couple of weeks. And the stock is quite thin and I would expect it's going to run a lot higher and have to split because there's not much paper out.
And WaveRider (WAVC) just announced a deal with a company in Australia. All those Aborigines and Crocodile Dundee's don't have anyway to access the Internet from out in the middle of nowhere and that's what this wireless Internet access business is going to provide. And that's why we like company's like WaveRider (WAVC).
LM: Where's WaveRider (WAVC) trading at right now Don?
DW: It's trading around $5. We originally got into it around 30 cents. It had a big run pressing up to $16; of course, it came down with all the NASDAQ stocks. And now it's turning back up again.
LM: Okay. Where would you be investing in the tech sector right now?
DW: Well, for those who don't want to bother themselves with picking individual stocks, you can use a mutual fund like Fidelity Select Technology which we've been in. That fund is really performing quite well and on a day like today it's up $1. Instead of having to worry about your stocks day to day, our service even times mutual funds. So you can trade Fidelity Select Technology and some of the other funds. We mix them up a little bit, this sometimes makes it a little easier.
So, we got a Bull Market on our hands, climbing a wall of worry (LM: LOL), and there are plenty of opportunities out there yet for those who doubted this Bull Market in the last 10 years. It's really, I believe, just getting started.
LM: Where are we on the wave cycles now?
DW: The wave structure is still groping for the end of a corrective pattern that started a year ago. We still have what we call The Epicenter of Primary 3 of 3 to the upside ahead of us. And the reason we're expecting that is because we haven't seen it yet. Anything that you haven't seen yet means it's still ahead of you.
LM: Right. LOL.
DW: And that's what we're looking for. So if you haven't seen the sunlight yet and it's dark, just hang around awhile cause the Sun will shine.
LM: LOL. Alright Don, thank you so much. You always shine for us.
DW: You have a nice weekend.
LM: You too.
LM: Don Wolanchuk of the Wolanchuk Report. I'm Linda Marshall. |
