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Gold/Mining/Energy : American International Petroleum Corp

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To: DRRISK who wrote (7739)	3/15/1998 12:08:00 PM
From: DEER HUNTER	Read Replies (2) of 11888

Morning....I took a look at some of the more popular technicals indicators for kicks. Here are my observations FWIW. All longer term indicators of trend are still bullish. Many of the shorter term systems are still locked into the correction camp. Weekly stochastics finally entered the 'oversold' region this past week....this the first time this indicator has reached the oversold region since November of 96! The 50 day ma is at approximately 4 and is basically flat....not indicating much acceleration to the downside at least for now. The 200 dma is at approximately 2.75 and continues with a positive slope....showing a slight decrease in momentum but nothing serious noted. The stock price has been below the 10 week ma since approximately mid November of 1997. The 10 week ma turned lower in early December and is drifting sideways to slightly lower. The trend continues to show 'correction' and NOT bear market at this point in time IMHO. The only 'gap' remaining on the daily and weekly charts lies between .94 and 1.19 way back in July of 97 or so. I view this gap as a break-a-way gap and does NOT necessarily have to be filled before the price continues into higher ground. I took a look at a short term trading system to get a feel for who is making the money. As everyone would expect none of the short term sell signals have worked out unless the shorter has been very fast at taking profits. Since January 97 there has been six buy and sell signals. The sell signals have been in force an average of 25 trading days. The buy signals have been in force an average of 27 days. The current sell signal occurred 20 trading days ago at price 4 1/16. So IMHO a rally back to the 4 range is very close. Lastly....I noticed that the price movement this past week back to 3 3/16 matched the price bottom made on 12/31/97 and was a non-confirming move when looking at typical RSI (relative strength) indicators. I'll be talkin at cha. DEER HUNTER

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