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Gold/Mining/Energy : PYNG Technologies

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To: Andre Bain who wrote (1295)	3/20/1998 10:13:00 PM
From: Allan F.	Read Replies (1) of 8117

Speaking on technical terms only; Pyng entered an overbought condition after a remarkable run-up caused by a string of well timed news releases; no doubt directed by Mr.Jacobs. He was too successful and the stock got ahead of itself. The stock is now in a correction mode. I expect a 50% retrenchment from it's $4.00 price move since late February. The support is between $4.00--$4.15 if this line breaks the stock will fall to its lower trading range of $3.35--$3.50. Panic buyers and sellers lead a stock to be overbought or oversold. Day traders see this as an advantage to make a quick dollar and leave. Sophisticated investors buy the company on potential and stay the course; however this type of investor in a junior company are in the minority; thus the stock remains volatile and open to manipulation.

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