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Gold/Mining/Energy : NPEC - take a look

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To: MarcG who wrote (5968)	4/16/1997 1:41:00 AM
From: Gary Voith	of 5988

Marc, I think you may be a bit confused. A head and shoulders pattern indicates a reversal. According to you the head is represented by the run to 3/8. I suppose the left shoulder was the move to .21 on 1/13/97 and you say we are now forming the right shoulder. You also said that it is looking bullish. But if a head and shoulders indicates a reversal then the stock would be ready to go down once the right shoulder is completed, not up. In order for a head and shoulders to indicate the price is going to go up it needs to be an inverted head and shoulders following a decline in price. The pattern would then indicate a reversal of the down trend. Personally, I don't see a head and shoulders in NPEC's chart. What I do see is a false breakout due to excitement over LFNO (or what ever the symbol is going to be) with a basing where the previous high had been established (.18 to .22). If all goes well the base will hold until LFNO begins to trade, whereupon the previous high of 3/8 will be tested (and hopefully blown away). If there is another false start you may see the base fail and a retreat back to .13. That is what I was afraid of when I saw PSG predict a runup on Monday. When the price clicked up to .23 near open and immediately retreated to .19 that was dangerous. Fortunately the base level held. Please PSG, no more false starts. The price is in too precarious a position to be predicting anything that does not follow through. Everyone justs needs to stay cool until LFNO opens. I know I was guilty of predicting a moon shot because of what Dave Dericco had told me. Right now we all just need to quietly accumulate more shares and wait patiently. Gary PS. Now that I've read through to the end of the thread I see that this head & shoulders thing has been rehashed already. Sorry to beat a dead horse. Let's just hope that the horse doesn't stay dead for long (NPEC that is).

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