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Gold/Mining/Energy : PYNG Technologies

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To: Rick Thomas who wrote (2073)	4/22/1998 8:36:00 AM
From: the Chief	Read Replies (1) of 8117

Hi Rick. I have no problem with your forecast, except for one part. >> Should we close below $4.00 , we are most likely to test support in the $3.00 range. I believe you will see that the next resistance level is not $4.00 but $3.85! If we break the $4.00 level, I do not believe it indicates any strong signal. In fact a test and failure of the $3.75-$3.85 level will send it into unknown territory. In the interim a week support level at $4.00 has been established. Failure of any of these support levels will be directly proportional to the waiting period between "events". If we have a news release above $4.00 then the $4.00 support level will strengthen. If it occurs in the $3.85 range than it will just reinforce the existing support level. if we have no further news releases for a long period than boredom and complacency will set in and support levels will have no meaning. MOO (my opinion only, or, a noise a cow makes) the Chief

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