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Jul 10, 2006 - Issue #014



What's that ticking sound?



The weekly charts are most revealing. Many of them have adjusted their significant support trend lines upward in a manner similar to raising a trailing stop-loss order. Many others are on the verge of doing so.

When these upward support trend lines are first installed after a long decline in a stocks' price, they represent strength and signal a change of direction in trend.

However, after a sustained upward trend, sooner or later, the final upward revision often appears shortly before a major break to the down side.

So, what do these latest installed trend lines represent? New found strength or are they pointing out the line of demarcation? I don't think we'll have to wait long to find out.

Intel (INTC) is still looking strong as long as its' support, which it currently seems to be testing, holds.

Radioshack (RSH) has finally shown signs of life. It seems the companys' 'head-hunters" have brought in a new "hired gun" to turn things around.

The big upsurge in price was probably due, in addition to fresh money coming in from brokerage firm "buy" recommendations, to short covering, which is always the first sign of strength. If the "shorts" cut and run, pay attention. They're telling you where to put your money. Isn't it nice to have professionals point the way?





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