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Gold/Mining/Energy : PYNG Technologies

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To: the Chief who wrote (2190)	5/18/1998 5:36:00 PM
From: Ward Nicholson	Read Replies (1) of 8117

Chief: You base the direction on this stock through TA. I continue to disbelieve pure TA is applicable. If it were to reach $3.00 as both you and Pierre hope it would, it would have little to do with TA but more importantly the lack of an appropriate news release. Which, of course (from your perspective) would support "TA" as accurate. Not true!! It is very similar to "chicken and egg" I never did respond to this. For some reason you insist on bringing casual factors to bear on the situation. What you don't seem to appreciate is that from my perspective it matters not what will sink PYT down to $2.75. The breakdown in PYT is simply an event with a high probability based on its trading behaviour. Regardless of what your fundamental reasoning for the drop is, i.e. "lack of an appropriate news release", how can you possibly invalidate TA based on fundamental reasoning? Do you realize that you're inappropriately mixing two theoretical constructs here? The only answer I can come up with is your inability to accept that the market is not necessarily logical, and that while cause-effect relationships may sufficiently explain market behaviour, they are not necessary. WN

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