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Gold/Mining/Energy : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (3015)	7/10/1999 10:44:00 PM
From: Not_Active	Read Replies (1) \| Respond to of 4504

Claude: Good point, as I didn't do a fibo retracement on it ... certainly if the 50% level doesn't hold it will be very disturbing. Part of the problem with a stock like this, though, is that it is not being traded in and out by lots of pro's who would have sold near the peak before the news release and be sitting there with the money to come back in at one of the support levels. My impression from looking at the trading is that there are a lot of buy-and-hold investors who bought above the $5.25-5.50 level that are now either trapped or perhaps about to become trapped. The buy-and-hold psychology being what it is, they will not (have not) sold, and won't sell until the pain of falling prices becomes too great -- at which point they will capitulate en-mass (or barf, as the technical types like to say). We are a long way from that point (studies suggest that a typical individual has to lose 70-80% of his money before giving up a tick or two from the bottom), but these people won't have the money or enthusiasm to jump in and buy more, IMO. So, new money has to come in ... I guess it depends on whether the word gets around (and is favorable) about the pending set of results. We shall see ... Kacy

To: Claude Cormier who wrote (3015)	7/12/1999 1:30:00 PM
From: TrueScouse	Read Replies (3) \| Respond to of 4504

Claude: <<an important support level in the $5.25-$5.50 area. It doesn't show on the chart as a support zone because we were breaking out of a good base just below $4. But this area above $5 is where most of the volume took place. The area is where the 50 EMA is at the moment and where most of the buyers got in during that breakout. The 50EMA is the strongest support zone in bull markets. The largest correction will never retrace much below it, otherwise you have a long term trend reversal. The $5.50 level is also a 50% retracement of the move from late March to the $8.50 high.>> You're right on the button when I last looked. With today's low so far at $5.30 and big volume in the $5.40 to $5.60 area, it's really testing this support level. Personally, I always like the 50% retracement level as a good place to buy, so I couldn't resist this morning! From a fundamental perspective, I also think that this is a "bargain" price. IMO MAN was worth close to $5.50 before we got the figures for the oxide cap at TG-1, and now with the confirmation of sulphides and the long intercepts at TG-3, there's a chance it will run up again in anticipation of the TG-3 assay results in the next week or so. We shall see. Either way, I'm very comfortable increasing my position at these levels. Regards, Howy