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To: HEMIGUY who wrote (816)	6/28/1999 11:02:00 PM
From: Jeffrey L. Henken	Read Replies (2) \| Respond to of 3514

Yearly high on PCES is 0.28. The stock closed at 0.13 today on what certainly looks like great hopes for a merger. 0.13 was the high of the day which is very positive. Only 207,000 shares traded so that's not a lot of cash thrown at this issue just yet. In my opinion the stock could move higher but unless the news is terrific 0.28 may already be the preset ceiling.... The stock is already under distribution and it is overextended.... So I guess I would rate this one a cautious buy on a technical basis. It could go a whole lot higher but do not get too greedy. After all even though the company is fully reporting we have far more questions than we do answers. Regards, Jeff