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Technical Analysis ANDE AUY GG HMY JCOM OVTI WFR CRS
Sunday, December 10, 2006
Weekend Update - ANDE, AUY, GG, HMY, JCOM, OVTI, WFR, & CRS

Andersons, Inc. -(ANDE) - Weekly Chart

The weekly chart of ANDE illustrates that ANDE is in a bullish falling wedge reversal pattern. As you can see it is just now going into a 123 bullish trend reversal on the Aroon indicator. If you look at the Aroon indicator, you can see the bullish cross occurs at 50, which is right in the middle. When the cross occurs at 50 this will create some whipsaw in the stock. The cross at 50 or so will cause a counter trend pullback to the uptrend line. You can see this occur on the chart. The pullback occurred on light volume which also a bullish signal. Nevertheless, the pattern remains bullish. In addition, when the Aroon cross occurs at +70-90 or at -10-30 that is a very bullish cross. Furthermore, the indicators and oscillators are in a bullish trend reversal. This week, ANDE closed down -3.68% at 38.45.

Yamana Gold Inc.-(AUY) -Weekly Chart
The weekly AUY chart illustrates that it is in a bullish ascending triangle pattern. AUY is a front runner gold stock. This week AUY reached new all time highs this week at $13.81. However, this new high caused the stock to become overbought on the daily and it needed to take a breather, by pulling back to test the breakout line. The breakout of the ascending triangle remains intact. The Aroon cross is in a very bullish cross at 10 on the weekly chart. The rest of the indicators and oscillators are in a bullish trend reversal. This week, AUY closed down only. 39% at 12.80.

Carpenter Tech Corp.- (CRS) - Weekly Chart
Let us analyze the before and after charts of CRS. I wanted to issue a buy alert on this stock today but didn't get around to it. I may issue a buy alert on it tomorrow depending on what happens. So heads up. If you look at he Before chart of CRS, you can see that it is in a bullish continuation symmetrical triangle pattern. Now, if you look at the after chart you can see that CRS just had a 1-2-3 bullish Aroon cross and that all the other oscillators and indicators are showing bullish divergence. Also note that it has three weeks of accumulation and it hit the down trend line as of today's close.

Goldcorp, Inc. (GG) - Weekly Chart
Goldcorp, like AUY is also in a bullish ascending triangle pattern. Within this pattern is a smaller bullish falling wedge pattern. Within the falling wedge, you can also see a text book ABC pullback to the longer term up trendline. Furthermore, you can see the bullish cross of the moving averages which will likely turn into a bullish fan in time. The Aroon indicator is still in a1-2-3 bearish cross, but the rest of the indicators and oscillators are bullish and moving up along with price. This week GG down 4.70% to end the week at $29.22.

Harmony Gold Mining Company - (HMY)- Weekly Chart
As with the aforementioned gold stocks, HMY is also in an ascending triangle pattern. As you cans see by looking at the chart HMY has successfully completed it's wave 3 to 4 pullback to the long term uptrend line. This week HMY had a bullish Aroon cross which cased a pullback on light volume to the 13 EMA, which it held. In addition, the indicators and oscillators are bullish and moving up along with price. This week HMY closed down 6.95% to end the week at $15.39. If you have extra money and do not own HMY I am reiterating a buy here.

j2 Global Communications Inc. - (JCOM)- Weekly Chart
The weekly chart of JCOM illustrates is in the process of forming an ascending triangle. As you can see, JCOM had a wave 3 to 4 pullback and placed it's recent lows at $22.64 in August of this year. It retested the lows in September and held the uptrend. You can see that, at this point, the moving averages began to cross over and upwards indicating that the lows were placed. Furthermore, indicators and oscillators are bullish and you can see bullish divergence presenting itself within these. The Aroon indicator had a very strong bullish cross this week at the-20 line. JCOM is up 7.34% this week and closed the week at $29.25. There may be some resistance at $32.00. However, once JCOM takes out 32 there is no resistance up above that. JCOM reports next week. I want to reiterate a price target of $36.00.

OmniVision Technologies, Inc. -(OVTI) - Weekly Chart
The weekly chart of OVTI illustrates that it is in a falling wedge reversal pattern. However it may also be in a double bottom pattern. You can see that it has back tested the down trend line with the recent gap down. The recent low at $13.45 is close enough to the previous low at $13.85 to cause a double bottom pattern. This is a high risk stock, and consequently they can be more volatile. The Chart says it is a higher risk trade but I believe that it is one of those stocks that will pay off. I suggest entering a small position here. Furthermore, all the indicators and oscillators are bullish, except for the Aroon, and you can see bullish divergence presenting itself within these.

MEMC Electronic Materials - WFR - Weekly Chart
The weekly chart of WFR illustrates that it is in a bullish continuation symmetrical triangle pattern. As you can see, WFR has broken out of the triangle to the upside with a vengeance on heavy volume. In addition, the indicators and oscillators are bullish and moving up along with price
WFR is up 5.58% this week and closed the week at $42.40.

Carpenter Tech Corp.- (CRS) - Weekly Chart
The weekly chart of CRS also illustrates that it is in a bullish continuation symmetrical triangle pattern. As you can see, CRS is on the verge of breaking out and you will notice volume coming in to the stock over the last three weeks. In addition, the indicators and oscillators are bullish and moving up along with price. CRS is up 4.03% this week and closed the week at $111.84.

On a final note, Oil and energy stocks, ethanol plays, gold stocks remain the primary focus of the portfolio. There are some other sectors in the portfolio as well. I tried to pick the stocks with the best charts and the best charts in the bigger picture. All of the stocks have different risk and reward ratings. As the stocks rise in price the risk ratings will change. An example of this is ZOLL, at entry it was a low risk stock, now with the move up in price it becomes a medium risk stock. Risk and reward is constantly evolving.

ANDE
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AUY
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CRS
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GG
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HMY
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JCOM
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OVTI
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WFR
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