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Gold/Mining/Energy : Chartists' Corner

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To: chevalier who wrote (26)	6/4/1997 8:37:00 PM
From: Ward Nicholson	of 38

EMG: Oh man...sorry to be the bearer of a negative opinion, but EMG is in a bad way. I don't have anything positive to say about the chart (unless you're shorting it). EMG had a life until March of 1997 when (surprise) the BXM shock waves killed it. I just don't know what to say other than that. You could pick up some at this level and figure that you're getting a good deal...and then watch it rebound to possibly $2.40, or it could just drift into the sea of nothingness. I see that your message was from before the drop below $2.40. At that point it was a gamble to pick up more, thinking of a bounce to $4.00 (hope you didn't buy any at that level). The thing is, this chart had been in a downtrend since September 1996 until in March of 1997 it appeared to have broken that trend. But, it ended up being a false breakout, returning to its downtrend and sucking the big cosmic wang ever since (unless you shorted). I know this may not make any difference to you, but take it what it's worth. WN

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