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Gold/Mining/Energy : BPI, Big Picture Technologies

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To: grantsi who wrote (142)	1/27/2000 2:09:00 PM
From: John Walker	Read Replies (1) of 249

Well grant, here's my opinion, for what it's worth. The stock was due for a fall back anyway after the rapid increase in price last week. The drop began on Tuesday when both the TSE and NASDAQ got clobbered, so I think the retracement just started in sympathy with the rest of the market. However, since then, I believe the "market makers" decided to take advantage of the situation and run a little bit of a "shake" which probably would have had to be done sooner or later anyway. You'll notice the drop was on lower volume than the 3-4 day runup previous. This morning the volume seemed to be increasing again (although it has slowed somewhat now) and it looks like the stock may close at or above $4, which would be a healthy place (again in my opinion). I think that by tomorrow we'll see more support returning to the stock and a close around $4.25-4.35. I think we're overdue for news and the next big push to (or through) the $5 barrier will come when the next news is nearer.

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