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Gold/Mining/Energy : Flag Resources (FGR.A A) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen Mooney who wrote (2371)	2/24/2000 1:45:00 PM
From: ali	Read Replies (1) \| Respond to of 4269

Hi Stephen and all, someone is loosing his nerve and the flag price is dropping.I think it is foolish to bail out now.Murdo is on his way home today and we should hear tomorrow or early next week what the results and the plans are for flag.We DO have platinum/palladium and the deep drilling rig has been booked for the motherlode search.The drop of the price of palladium I welcome, as it bodes well for the future and stability of this commodity. It may be an opportunity to pick up a few shares I think.

To: Stephen Mooney who wrote (2371)	2/24/2000 10:59:00 PM
From: jbr29	Respond to of 4269

Hi Stephen, I don't claim to be a master of TA, but I will do my best FWIW. Again, TA on relatively light traded juniors is even dicier than on highly liquid issues. Be mindful that TA is only an art, and its purveyors frequently must scrape the egg from their faces. GLB: It looks to me like someone has decided 2 GLB = 1 FGR, at least for this go-around. So overhead resistance is at about 30c. The gap at 21 is crying to be filled, so barring some good news soon, some test and probable compromise of the nominal 21c support is likely. If you draw a line connecting the early June and late August highs you will note that the price action in early February challenged this descending line, percolated for a week, then broke through (15c)in mid Feb. Some might argue that the Sept 99 through early Feb action was a saucer with the Feb drop back to 12c the handle (it's pretty short). So I see 15c as support on a retrace. The 5c double bottom to 30c high is a 25c move. A move back to 15c "support" would tranlate to a 60% retrace, about as close as you're going to get to a Fib 61. Please don't ridicule me if the price falls through this number, I'm only reading the tea leaves today. Also, I'm not real crazy about the steady decreasing volume this week. FGR: Resistance at .60, support at 50c (the early Feb resistance on the first leg up). Today's action broadens the ascending triangle somewhat (today's print 51c low and the earlier 41c low define a less steep hypotenuse). Volume is still OK. A compromise in the 50c support could mean a drop as far down as 28c (the line connecting the early June and early Sept highs). This would correspond to about a 75% retrace of the Jan low (.17) to Feb high (.60) move of 43c. It's a weaker Fib than .61, but a Fib nonetheless. The thing that I like about the action this month is that its volume probably exceeds the cumulative volume of the previous year.