|Martin Fleischmann and Stanley Pons amazed the world in 1989 with their cold fusion news conference at the University of Utah. Fleischmann in particular was one of the world's leading electro-chemists, and the announcement of room temperature fusion set the world on fire. It appeared, for a moment, that all our energy problems could be solved. It was the announcement of cold fusion — nuclear energy like that which powers the sun — but at room temperature on a table top. It promised to be cheap, limitless, and clean. Cold fusion would end our dependence on Middle Eastern oil and stop those greenhouse gases blamed for global warming. It would change everything. |
But then, just as quickly as it was announced, it was discredited, so thoroughly that cold fusion became a catchphrase for junk science. Well, a funny thing happened on the way to oblivion — for many scientists today, cold fusion is hot again.
The experiment conducted by Fleischmann and Pons used lithium. Today, they use palladium in their experiments. What happened to Fleischmann and Pons? The last I heard was that because the Western scientific world laughed at them, they took the first Asian offer made to them, and that was by a Japanese car company.
Today, with the energy crises throughout the world, motor cars are moving away from petroleum to electricity stored in batteries, and the most efficient batteries are made with lithium.
Figure 1 must be of one share of lithium that looks promising. Western Lithium is developing its Nevada lithium deposit to support the new generation of hybrid/electric vehicles. Western Lithium, listed on the Toronto venture exchange, engages in the acquisition, exploration, and development of lithium resource property in northwestern Nevada. It has a mining lease and an option to purchase interests in the Kings Valley Lithium project, located to the west-northwest of Orovada, NV. The company was incorporated in 2007 and is headquartered in Vancouver, Canada.
With one of the world's largest known deposits of lithium, the company is ideally positioned to enter the market as a major long-term supplier of high-quality lithium carbonate.
So, what does a chart tell us? The company, which was founded in 2007 and listed on the exchange in July 2008, Figure 1 tells us the following:
|FIGURE 1: WESTERN LITHIUM CANADA, WEEKLY|
|Graphic provided by: AdvancedGET.|
|-The Elliott wave count suggests that the weekly chart is in a wave 4 correction that should not fall below $0.99, which is a strong support level as shown by the double-testing at point 91.|
-The relative strength index (RSI) (12) has given a divergence sell signal suggesting weakness ahead.
-The parabolic moving average is still positive.
-Volume has been falling as the price fell, a sign of strength.
|FIGURE 2: WESTERN LITHIUM CANADA, DAILY|
|Graphic provided by: MetaStock.|
|Figure 2, a daily chart, suggests the following:|
-The Hawkins MACD volume indicator is suggesting a buy at present levels.
-The relative strength spread indicator has given a buy signal.
-The stochastic RSI has given a buy signal after hesitating as the price moved sideways.
-The price moved above the Vervoort trailing stop indicator, giving a buy signal.
At $1.32 the price of the share has given a buy signal. This is a stock we should buy & hold.
|Address:||3256 West 24th Ave|
|Phone # for sales:||6042634214|
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