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

To: Not_Active who wrote (3033)	7/11/1999 4:05:00 PM
From: Jeff Dickson	Read Replies (1) \| Respond to of 4504

Kacy, Keep it coming! I don't think you're slamming MAN. But if you want to, go for it. Even if technical analysis can't capture big changes in the fundamentals, at worst it introduces some trading discipline. I use simple MACD as a timing tool, but that's about it. On a small stock like Manhattan I think there is a god chance that things like support and resistance are self-fullfilling. Maybe you can expect the stock bought at $6 people will stop loss at $5.80, which means it corrects more. But I think a bigger impact will be because of the next two news releases (up or down). One difficulty with simple charts is that they do not take into account dilution, so they do not accurately reflect the fundamentals which technical analysis attempts to distill. On a small stock like Manhattan that can have a big impact. My point about the kick in the stomach is that a couple of times a stong upward movement has been preceeded by a capitulation. Do you think the chart action to $8+ for under two days is valid for technical analysis, or is that outlier data? -jeff