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Jetcom International [JTCM.CDN] Rumbles on the CDN stockhouse.com Jetcom Internation was Friday's 3rd most active trader on Toronto's over-the-counter market, the Canadian Dealing Network, with more than 650,000 shares share changing hands. Since July 3rd, JTCM has traded more than 2.1 million shares and now has begun to attract growing interest. Rumors are circulating that JTCM may have a significant announcement next week, after this past week's news release of a joint venture agreement that would provide Y2K services to leading Canadian companies. JTCM traded as high as $0.24 today, before closing at $0.23/share. Since Insider Report began coverage of JTCM, the share price has jumped more than 40%. Our sources confirm that high volume is expected to continue next week as JTCM shares move toward $0.30. Insider Report By The Insider Group hotline@istar.ca Jetcom Inc. Symbol: JTCM Exchange: CDN Address: ON Canada Telephone: (905) 660-0333 Fax: (905) 660-1536 Toll Free: 1-800-387-3517 Website: jetcom.com E-mail: info@jetcom.com Jetcom International CDN: JTCM Jetcom International trades on the Toronto over-the-counter market, through the CDN. You can obtain delayed or real-time quotes and charting capabilities on Canada Stockwatch. Recent price range in Jetcom (JTCM): $0.16 - $0.22. We began following Jetcom after a large trading volume day in June (greater than 500,000 shares traded near the bottom of the 52-week trading range). It was time to bring this to your attention, after trading volume dramatically increased, over the past five trading days -- more than 1.5 million shares have changed hands during this time. Nearly 2 million shares, cumulative, traded in less than 30 days, the bulk of which traded this past week. Large volume accumulation, at the bottom of a stock chart, generally signals a stock promotion has begun. Moderate resistance level at $0.30 - $0.35/share. Stronger resistance level at $0.60 - $0.80/share. High potential for a double from Thursday's trading range: $0.20 -$0.21. Recent news announced a joint venture with a Panamanian company, Grupo TCI, that would provide Year 2000 consulting services to Canadian companies. The Year 2000 story impinges on our computer-oriented society and, through repeated media attention, attracts governmental and corporate attention. The majority of the world's corporations and governments are ill-prepared for the "millenium bug," as it has been called. The basic problem is that older mainframes, used by the larger corporations and governments, will not recognize a date change in the year 2000. Those computers won't be able to recognize the year 2000, from the year 1700 or 1800 or 1900. Tabloid-style journalism compares this to an armaggedon, where millions, billions, trillions of computer records will vanish without a trace. While much of the hysteria may be overstated, corporations have begun to seriously address this problem and have assigned committees to study the "code conversion" that the Year 2000 problem necessitates. This is a propitious time for a new Year 2000 entry, such as Jetcom, in that many of the established Y2K publicly traded issues have been overloaded with projects. Most of these companies have already enjoyed strong share runups, during 1997, and their biggest problem is a lack of technical staff. The joint venture with the Panamanian company, Grupo TCI, is said to promise a highly skilled labor force at affordable wages. This was bound to happen. We shall find more enterprises, such as Jetcom, springing up as the year 2000 draws near. Because of the high trading volume in JTCM, we began investigating. The head of Grupo TCI arrives in Toronto this weekend. There are numerous meetings scheduled this coming week with leading Canadian corporations. For example, the Jetcom/Grupo TCI alliance will be meeting with one of the world's largest telecommuncations companies. It has been rumored that JTCM may soon announce an alliance with a private satellite company and also launch a proprietary product develoment. All three businesses are expected to immediately generate revenues. We anticipate that there will be a series of news announcements throughout July and August that may propel JTCM shares through their interim resistance level ($0.30 - $0.35) and could set the stage for a late summer rally toward the company's 52-week high: $1.20/share. Until now, we have abstained from any recommendation, other than Anvil Resources [ANV - A], which has gained more than 300% since our initial recommendation, this past January. Jetcom International has the right stuff to match a similar gain within the next 90 days. Target price: $0.63/share. Cyriuss Investment Notes E-mail: cyriuss@stockhouse.com Mr Metals | ||||||||||||
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