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Gold/Mining/Energy : Nuvo Research Inc -- Ignore unavailable to you. Want to Upgrade?

To: Montana Wildhack who wrote (6557)	1/23/2001 8:01:47 PM
From: Joe Krupa	Read Replies (2) \| Respond to of 14101

Hi Wolf, "Will we close that $7 gap?" Calling this stock in the short term is often an effort in futility. I suspect we will close the gap (not fun), but see that as a catalyst for a move up (fun). I DON'T believe we can re-enter the downtrend which looked like was forming earlier. Interesting chart right now. A week ago, the it was drawing a new down trend for me, with 3 defined peaks and 3 troughs. Now I don't see it anymore -- a triangle and/or declining wedge is appearing more likely. Intersting that accentuating the triangle is the 50 & 200 DMAs, which have undoubtedly factored into the price action in the last couple months. Both lines are converging at a rapid rate, the 200 DMA ($7.79) providing resistance and the 50 DMA ($6.71), support. Bollinger bands are wider and seemingly less a factor in the altering price direction. IMO, there is absolutely NO reason for the price to drop below the 50 DMA -- within a couple days the 50 will be around $7.00 (my call for a bottom). Coinciding with hitting the 50 DMA around $7.00, would be the completion of the triangle or the apex of the declining wedge. I am likely way out to lunch on this one since I thought I saw a wedge forming back in June! Of course, as we all now know, $7.00 becomes a significant number given the Acqua deal. So, my call is a return to $7.00 before a move up. I have a few more to buy before I am at 100% of my desired position. You can find me on the bid at $7.00, if I should be so lucky to get them at that price. Joe <img src="http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=DMX.TO,UU[L,A]DACLYYMY[DC][PB50!B200!D20,2][VC60][IUC20!LA12,26,9!LD20!LH4,3]">