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Gold/Mining/Energy : PYNG Technologies

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To: Jack Rayfield who wrote (3479)	3/14/1999 12:52:00 AM
From: Ward Nicholson	Read Replies (2) of 8117

Jack: I would really appreciate your reasoning for picking the C $1.00 level. I am always looking to learn and my hat is off to you for taking such a bold position last year in your almost perfect prediction. I must admit I think that you are full of bull on your current call. But I have been wrong for over a year and admit that I could be blindly optimistic. Sorry Jack. I've just quit TA for good. Jerry convinced me. Well...ok one more post for old time sake: Allow me to clarify the $1.00 call. I'm not saying it will get down to $1.00. I am saying that given the current trend $1.00 is a good possibility given the fact that a) PYT is in a well-established downtrend, and b) PYT has traded at such a level in the past before reversing its trend. Besides, $1.00 is a nice round number that traders tend to focus on. Support and resistance levels tend to act like magnets anyway. Hence, I'll wait it out. Show me a change in the trend and I'll go long. You see, by waiting I have nothing to lose. I may not make as much should PYT break to the upside immediately, but I lose nothing. WN

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