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Gold/Mining/Energy : PYNG Technologies
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To: Ward Nicholson who wrote (2237)5/18/1998 8:29:00 PM
From: the Chief  Read Replies (1) of 8117
 
Hi ward. Are we speaking the same language? I'm speaking English, how about you?
You said: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?

I don't remember using PYT as an example throughout this explanation. I referred to "stock groups" and juniors !! I was giving you example where TA is useless in "infancy penny stocks" and there natural progression. I also gave you reasons why TA "should" not be applied.

You said: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.

Gads, you actually got a point here! Yes I use TA to "develop strategy when daytrading a stock" but still include fundamentals to ensure correct timeing(my approach, but not always necessary). I never insinuated TA was invalid. I will restate again.

I believe TA alone, is invalid when it comes to predicting long term "downtrends" in event driven stocks!! Your doomsday scenario is not valid as it is based strictly on TA. My position is that this stock will generate sufficient "events" to keep it in the $4.00-$5.00 range. You believe based on TA alone we will see $2.75

I would agree to sit back and watch the scenario unfold, how about you?

the Chief
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