Hey! If you followed my posts since September, you wouldn't be in this predicament!!!! I told everyone following this thread that N.V is heading south into the December timeframe. If you are long, don't double up on the stock. Start diversifying into other sectors with promise: Oil & Gas, Biopharmaceuticals.
You want some picks?
Market Monitor Don Wolanchuk Of The Wolanchuk Report
PAUL KANGAS: My Market Monitor guest this week is Don Wolanchuk, President of the Wolanchuk Report, a telephone hot line service for
stock traders and investors based in Detroit, Michigan, from where he comes to us tonight. Welcome back to NIGHTLY BUSINESS
REPORT, Don.
DON WOLANCHUK, PRESIDENT, "THE WOLANCHUK REPORT LTD.": Hi, Paul. Thanks for having me.
KANGAS: Without any doubt you've been one of the most outspoken bulls on the stock market since the turn of this decade. But has this recent
nasty downturn on Wall Street triggered by the turmoil in the Asian markets caused you to tone down your positive outlook for U.S. stocks?
WOLANCHUK: Well no doubt it was brutal. But nevertheless it hasn't changed a thing in my view. Without fear this market would be in serious
trouble.
KANGAS: In other words, it's got to climb that proverbial wall of work.
WOLANCHUK: You bet.
KANGAS: All right. How about the Elliot Wave theory. What is that showing you now. I know you're a great follower of it. Has it turned a little
bit bearish because of this?
WOLANCHUK: Not in my estimation Because the Elliot Wave theory as I interpret it continues to promise the long awaited recognition wave.
That means the long suffering bears who have not, who have failed to participate in this bull market will finally be forced to participate. And that's
what the recognition wave, or third wave is all about.
KANGAS: Well, Timer Digest has rated you number one in market timing not only for the last six months but for the full year so far. And you
have been correct on overall market trends.
For example on August 7, just after, a day after the Dow hit its record high of 8259 you began to get a little bearish and you got considerably
more before the October 27 554 point drop in the Dow.
WOLANCHUK: Well these are typical October massacres-
KANGAS: Yes.
WOLANCHUK: --that come along periodically-
KANGAS: But you turned bullish the next day, after the-
WOLANCHUK: Well, you know, this is-
KANGAS: So those are good calls. But what about the individual selections that you've given us? Last time four of them, Valence Technology
(NASDAQ:VLNC) was over 8. Now it's about 4 1/2. Integrated Devises (NASDAQ:IDTI) -
WOLANCHUK: Reached 9 1/4 and is volatile.
KANGAS: OK. But did you sell?
WOLANCHUK: No. Why should I? I accumulating the stocks as start-
KANGAS: And you accumulated here.
WOLANCHUK: Most certainly. It's a company that's starting up. They're ramping up production to 80,000 square foot-
KANGAS: All right. Same thing with Integrated Devises?
WOLANCHUK: Absolutely.
KANGAS: OK. And how about Eastman Kodak (NYSE:EK) you liked at 80. It's of course been hit. It's down in the 50's now.
WOLANCHUK: That's because of the competition thing with Fuji Photo (NASDAQ:FUJIY).
KANGAS: You still like it?
WOLANCHUK: I certainly do.
KANGAS: And Dupont (NYSE:DD), you have a winner. It was around 53 then. It's now about 10 points higher. Stay with it?
WOLANCHUK: Absolutely.
KANGAS: New suggestions here?
WOLANCHUK: All right. A real estate company for those who like a not real low price stock, but a medium price stock, $7, it's Eurotronic
Holdings. Its symbol EUHID. What I like about it it's around $7. It's thinly capitalized, in other words, it only about 700,000 shares out floating
around. And so it
doesn't take much to move a stock like that. And-
KANGAS: So I caution our viewer if they're interested in buying it to get a quote before they go in with a market order.
WOLANCHUK: Right. It's had great relative strength these few days.
KANGAS: All right.
WOLANCHUK: Another one is Waverider, WAVC, symbol, WAVC. The nice thing about this stock is the company just hired the ex vice
president of Dell (NASDAQ:DELL) Europe to run this company. It's ultra-high speed wire Internet access equipment. He was also the ex
president of Dell Canada. Now the attraction must be important. But the stock $0.50, would you bet $500 for a 1,000 shares of a stock?
KANGAS: Pretty speculative, though. Wouldn't you agree?
WOLANCHUK: Well certainly. Oh, sure it is until it's not.
KANGAS: Other suggestions?
WOLANCHUK: Another one is Perma Fix (NASDAQ:PESI) a turn around toxic waste company at around $2. Looks like a great situation
from basing for a long time.
KANGAS: OK. You know, in the last visit with us, I think it was back in May, you were predicting 11000 Dow by year end. Have you kind of
modified that a little bit?
WOLANCHUK: Well we got there, didn't we? Hong Kong, didn't
it get-
KANGAS: Wrong market, Don. How about the Dow Industrial Average?
WOLANCHUK: Well look, it would've been nice for the Dow to get to 11000. But it's up substantially since we've been on your program.
KANGAS: True.
WOLANCHUK: By job is a market timer. We don't get judged on our predictions per se. But nevertheless it's going to get to 11000. It's going
to get a lot higher than that. And of course
our problem is whether its going to get there before of after the upcoming four year cycle-
KANGAS: What's the downside risk you see here?
WOLANCHUK: Not much. I don't think we'll see the October lows taken out.
KANGAS: OK. So, still holding on to that strongly bullish stance.
WOLANCHUK: Absolutely.
Nightly Business Report transcripts are available on-line post-broadcast. The program is transcribed by
FDCH. Updates may be posted at a later date.
The views of our guests and commentators are their own and do not necessarily represent the views of Community Television Foundation of
South Florida, Inc. Nightly Business Report, or WPBT. Information presented on Nightly Business Report is not and should not be considered
as investment
advice.
(c)1997 Community Television Foundation of South Florida, Inc. |
