To: teevee who wrote (25375 ) 2/2/2000 12:24:00 AM From: bill Read Replies (2) | Respond to 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.