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Gold/Mining/Energy : Nuvo Research Inc

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To: David Graham who wrote (1804)	5/10/1999 8:08:00 PM
From: the Chief	Read Replies (1) of 14101

Well, to be honest I see a very good support level at $$4.05,a weak suppoert level at $4.25 and another weak one at $4.35. The $4.25 support was momentarily breached today and the stock still managed to bounce back and close above it, and the $4.35 support level. The blow down to $4.15 backfilled the gap created by the quick ramp-up in the morning. So what does this all mean. I would say that the stock will remain above the $4.05 level until the news arrives. Notwithstanding I could be totally out to lunch! Any breach of the $4.05 level with any sustaining pressure will likely result in the stock falling to its next support level which unfortunately is weak and is at $3.85 The good news is mommentum is with us and the stock is being played by the daytraders. Daytraders can create there own mommentum and push the stock to higher numbers. At the sametime any sustained level will create an artificial support level that will assist the stock! the Chief

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