WHAT THE CHARTS SAY

Bullish On Heinz

RON MEISELS AND MONICA RIZK

July 12, 2008

Following our Nov. 22, 2006, ($43.87 U.S.) report, H.J. Heinz Co. (yesterday’s close $49.09), rallied to $48.73 (A) and then settled into an area of consolidation between $42 and $48 (see dotted lines). It pierced above the large trading range recently to signal the start of a new major up-leg (B).

Technical indicators including the rising 40-week (200-day) moving average, the volatility system indicator (VSI) and the moving average convergence/divergence (MACD) (see lower panel) confirm the bullish status. Only a decline below $45 would reverse the positive long-term status of this stock.

Point & Figure measurements provide targets of $59 and $69. The large area of accumulation (see dotted lines) as well as the base from 2000 (see dashed lines) support significantly higher targets.

Ron Meisels is a contributor to the www.NA-marketletter.com web site. Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. They may hold shares in companies profiled. Please see the site for a glossary.

WHAT THE CHARTS SAY

Bullish on Norfolk

RON MEISELS AND MONICA RIZK

July 4, 2008

After a two-part rise from $20.38 (U.S.) to $57.71 (A-B), Norfolk Southern (Thursday’s close $58.91) settled into a wide horizontal trading range between $40 and $59 (see dashed lines). The U.S. railway stock pierced above the top of this range recently to a new high of $67.74, to signal the start of a major upleg (C). Use the current weakness as a buying opportunity in view of higher targets. Only a decline below $54-$55 would reverse the positive long-term outlook.

Point & Figure measurements provide targets of $72 and $79. The large area of accumulation (see dashed lines) supports higher targets.

Ron Meisels is a contributor to the www.NA-marketletter.com web site. Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. They may hold shares in companies profiled. Please see the site for a glossary.

WHAT THE CHARTS SAY

Bullish on Husky Energy

RON MEISELS AND MONICA RIZK

June 28, 2008

Following our previous buy recommendation (Dec. 9, 2003, $11.50 – adjusted for 2:1 split), Husky Energy Inc., (yesterday’s close $47.86), rallied to a high of $46.65 (A) for a 306-per-cent appreciation at that time. Subsequently the stock settled into a large wedge pattern characterized by higher lows and lower highs (see dashed lines). A breakout from this formation occurred recently as the stock rallied to $54.24 (B). The current weakness should be viewed as a buying opportunity in view of higher targets. Only a decline below $43-$44 would reverse the positive long-term status.

Point & Figure measurements provide targets of $54 and $64. The large wedge formation supports higher targets.

Ron Meisels is a contributor to the www.NA-marketletter.com web site. Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. They may hold shares in companies profiled. Please see the site for a glossary.

WHAT THE CHARTS SAY

Bullish on BMC Software

RON MEISELS AND MONICA RIZK

June 21, 2008

BMC Software Inc. (yesterday’s close $37.36 U.S.), built a large base between $11 and $21 from 2001 to 2006 (see dashed lines). In 2007, the stock rallied above this area of accumulation to a high of $36.92 (A) and then remained in a horizontal trading range between $27 and $37 (see dotted lines). The rise above $37 signalled the breakout from this trading range and the start of a new major up-leg (B). Only a decline below $33-$34 would reverse the positive status of this stock.

Point & Figure measurements provide targets of $44 and $53. The two large areas of accumulation (see dashed and dotted lines) support considerably higher targets.

Ron Meisels is a contributor to the www.NA-marketletter.com web site. Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. They may hold shares in companies profiled. Please see the site for a glossary.

We have recently entered into the third part of a four-part pattern that occurs at the beginning of almost every bull market.

We all know the market moves in waves – the rising waters lift our portfolios while the undertow drags it down.

Ron Meisels is the president of Phases & Cycles Inc. and a contributor to NA-Marketletter.com website.

To a small group of market observers, the phrase “nine-to-one” is not about ideal working hours. Rather, it’s a little-known market indicator that’s flashing strong bullish signals that we haven’t seen in a very long time.

Despite the grim economic data, continued worries about the subprime-loan mess in the United States and the inability of markets to post a solid rally, a few pundits have begun lining up for the bullish side and are seeing the light at the end of the bear tunnel.