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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Dav!d who wrote (644)	6/23/1999 11:51:00 PM
From: keith massey	Respond to of 5053

David... Not sure if there is enough points on the chart to make any significant triangles (bottom at mid-June) but I see the pattern you are referring to. Since I am in this for the longer term I have been looking at the week chart for the 10 year chart. At a first glance this looks like a classic bull flag (pullback from a strong run on decreasing). According to the week chart we are still in a very strong upward trend (14 period ADX at 40 and climbing). The only other times the ADX (direction movement indicator created by Widlers) has been above 40 in the past 10 years has been 11/15/90 and 2/09/96. These were both points ($1.05 and $1.45) at the start of JDX's two runs to $3.50 and $3.75. The week period DAHL went positive on May 7. The last time it went positive was on 12/01/95. This was on the first pullback at $1 on JDX's run to $3.75. I threw Metastock's Martin Pring's Long Term Momentum System on the chart just to check my results. Pring show JDX as being in a bullish phase and recommends a buy on a pullback in the advisory section. Pring shows Jan. 1997 to Feb. 1999 as bearish (good call) and Oct 1995 to Jan 1997 as bullish (good call). The short term week MACD is showing a sell signal but the long term MACD is showing a buy signal. Since the stock is trending oscillators (RSI, StochRSI, etc.) will not give valid signals since they are not designed for trending stocks. As for the daily chart... I still see a trend channel heading down at a low angle which is short term bearish. If JDX doesn't put out more news and people don't see the significance of the medsite.com news I can see a bounce off .70 happening some time in the next month. Of course people will be selling to me at this level. I would call a break through .89-.90 on volume a really breakout and will be buying into this run this run. Best Regards KEITH