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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2157)	12/15/2001 10:51:20 AM
From: Claude Cormier	Read Replies (2) \| Respond to of 4409

<However, the TA pattern tells me to check again.> I agree with you that the action since September looks like a bearish wedge. But TA does not always tell the story and there is always an alternate interpretation. On the longer term, BAY, now at $1.95 is at the top of a 13-months long consolidating channel ($1.25-$1.95). It has not closed at this level on a weekly basis since October 2000. It looks rather strong here with the price sitting above both its 50 and 200 MA. Since both MA are trending higher, I believe that we are in a break-out mode rather than a topping upward reaction. Of course, ths could change if silver suddenly break down and move rapidly below $4.00 The coming weeks action will tell the story, but at this point in time, I think that the fundamentals support the bullish technical outlook. Although BAY still has to complete its feasibility study, get permits, obtain financing and all.. I am not aware of any negative at his point that would change the long term potential of Corner Bay Silver. Read also: Message 16796281