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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (53061)	8/20/2001 8:13:38 PM
From: Shack	Read Replies (2) \| Respond to of 62347

Zoiks, wha'd I say? It sounds like you think I'm bullish!!?? LOL! Firstly, don't talk to me about fundamentals or I put NT below $5, and then some!....along with many others. I agree with you that this stock should be much lower. Secondly, I'm a technical trader and THATS ALL! A close below the 1998 lows is indeed significant from a technical standpoint for me as it was a major swing low and this is VERY BEARISH. I regret mentioning the company value as it clouds the issue. I was just taking a shot at their ridiculous dilution. Irrelevant for trading purposes. I am now saying that we likely drop AT LEAST to the 1996 swing low before any bounce is likely. That's 15% lower than we are right now (although admittedly I said we were in an area of major support...I shouldn't have because that is still a large hit form here.) I will watch how the stock behaves around the $5.75 level and then decide whether or not to play a bounce....and I stress the word BOUNCE. From an e-wave perspective, NT is in a 5th wave down (as are many optics stocks) from its highs which means that it is quite possible that after this last dump we will see a halt to the decline for a while. My favourite optics stock for a bounce is GLW and will likely play that one in my trading account. NT is for my RRSP play money. My stops would be there is any event. I am not going to catch the knife and have popped in here from time to time here to encourage the avoidance of Pacquetville. Like you Dave, most here are plenty smart and don't need me to say anything of course.