Utilico chart looks good for 2004 ......

Season's greeting to you too - hope 2004 is also profitable.

You asked me about a chartist's view of ECWC (Ecofin Power & Water). I know nothing about the company itself, but on the basis of price and volume action of the share, it is clear that it is only during large volume throughput that these actually move at all. Right now, we appear to be at the end of a period of consolidation before the next move upwards. It has the technically correct cup-and-handle shape, and the Bloomberg interview today about utilities, and water utilities in particular, certainly sounds interesting leading up to June 2004, so a move back upwards to the 80p region looks technically feasible. As a share, particularly as a short term pick, the spread is a little wide for my personal taste, but for Utilico on a longer term basis, it looks potentially very good.

While I don't mind being asked my opinion, and I have pointed out my last cup-and-handle chart pick of Teather and Greenwood back in July 2003, I take responsibility for my own decisions only.

Does Utilico have a website, and which other companies are in the portfolio??