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Gold/Mining/Energy : PYNG Technologies

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To: the Chief who wrote (2236)	5/18/1998 7:34:00 PM
From: Ward Nicholson	Read Replies (1) of 8117

Chief: TA is of little use to determine direction, when at best stock price is illogical. Stocks are "manipulated" to show artificial demand, news releases are pumped, stocks conveniently close at daily highs regularily. All these influences foul up a good TA determination. So fundamentals of the stock must be appreciated and considered. What? You have just made the argument that any technical analysis of PYT's situation is futile because PYT is being manipulated and/or hyped. Did you sincerely mean that? Consider the number of times this stock has fallen to approx. $4.00 and the number of times it has reached $5.00, If you caught half of them you would own your shares free. Don't look now Chief, but you are using TA to trade the stock. How can you possibly dismiss TA as a valid method of analysis, and then, in the same breath, depict how it guides you in adjusting your cost base downward? You are being very two-faced here Chief. Either TA is valid or it isn't. Which is it? WN

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