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December 19, 2010 Supplement Page

Fuel Cells Plus a Few Others

The Mid-term Indicant sold Citigroup over three years ago on Oct 19, 2007 at $42.36. It is currently trading at $4.70. It is down 88.9% since that sell signal. It traded as low as $1.07 in early 2008. It quickly rose with the 2009 bull to $5.23 by late 2009. It is a Yellow Bear stock. The Mid-term Indicant seldom buys into Yellow Bear securities. Of course, this is a bank where invention and new product introductions offer little excitement. Most of their executive management team are two-dimensional sorts, while physical product creation/production is always 3-dimensional with physical sciences included. In other words, management at Citigroup and similar organizations are on the low side of talent.

A darling in the 1980's, Motorola and its stupendous edifice, created a pseudo science, called six sigma in the 1990's. As you can see, the Mid-term Indicant bought it in Yellow Bear condition in early 2003's bull market. Its last sell signal was on November 9, 2007. It is down 46.2% since that sell signal. It is very close to a buy signal, but such a buy would be against trend. As you can see, it has endured a general negative trend for over a decade. So much for a six sigma led company. It is a useless abstract.

ISTK#27, Fuel Cell, is a bit different. Although its income statement, balance sheet, and cash flow look as about as bad as it would if managed by the U.S. Congress, it does offer potential. The conservation theory that energy may not be created nor destroyed suggests this company is chasing wind. However, a breakthrough is always possible, for it is required for the long-term survivability of our species. Notice it enjoyed a nice price jump in early 2009. The Mid-term Indicant did not signal buy even though that jump in price was accompanied with high volume. Here's another theory. The early buyers shoved the stock price up without fundamental support. More joined in the party with the early buyers selling to them. The early buyers made a nice profit while the late buyers and holders are down by over 40%. It is currently down over 70% since the Mid-term Indicant signaled sell on over two years ago on August 8, 2008. However, it is possible the company may very well be nearing a breakthrough. As you can see on the lower right hand corner of the chart, its price jumped significantly this past week. It was up 33.7% the week of Dec 12, 2010. Click here to view current status.

ISTK#32, Hydrogenics, also enjoyed a couple of bullish bounces the past three years, but retaining Yellow Bear status. As you can see, the Mid-term Indicant signaled buy in the early part of the 2003 bull leg. There have been three bullish spurts since the last MTI sell signal on May 19, 2006. It is down 95.5% since that sell signal. It has not participated in FCEL's bullishness last week.

ISTK #35, PLUG, is equally a non-participant in recent bullishness. It is down 90.1% since the Mid-term Indicant signaled sell on Jan 4, 2008.

ISTK#38, ENER, is equally unimpressive albeit with a flat configuration. It is down 86.2% since the Mid-term Indicant signaled sell on Oct 10, 2008. Interestingly, this particular stock has a slight upward trend when originating a view since 1998.

ISTK#34, BLDP, is equally unimpressive. It is down 80.2% since the Mid-term Indicant signaled sell on May 19, 2006.

If all of these stocks relating to fuel cell technology become blue bulls, participation is warranted. However, as long as most of them are Yellow Bears with expressed inabilities to cross above and hold above the Blue Curve, owning will invite investor grief.

 

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