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

To: Claude Cormier who wrote (3092)	1/20/2002 3:58:24 PM
From: TheBusDriver	Respond to of 4409

I'll be surprised if we test $4.05 but anything is possible. I know a guy will likes to play futures he is preying for $4.05 silver again<grin> We'll know in the next week. wayne

To: Claude Cormier who wrote (3092)	1/20/2002 10:49:50 PM
From: Little Joe	Read Replies (1) \| Respond to of 4409

Claude: the way the technicals look to me is that Bay broke out of its base which began forming in January O1 when it broke above 2.00 recently. There was strong resistance between 2.75 and 3.25 and Bay stopped its upward breakout at 3.00, which was bullish because that was very deep into the resistance area. Bay has now retraced to about 2.30 which is about a 50% retracement. How Bay acts from here will tell us a lot. As I see it there are three possibilities> The Most likely is that Bay will consolidate its gains over the next few months in the 250 to 290 range and then move above 3.00 and 3.25 for another breakout. Once this stock clears the 3.25 there is no near term resistance and the stock could run from there. 2nd and most bullish short term scenario is that BAY jut moves through the highs and clears 3.25 on its next move. This would, in my opinion, take some very positive news on POS or the stock itself. Last scenario is that rally fails and we go back to the base. This is bad. It would most likely mean some unknown negative information coming to light, a change in psychology or POS silver heads south. I don't consider this to be likely, but it always helps to be prepared for the unlikely. Near term as long as BAY stays above the 2.30 area, I think we are O.K. I have heard it said by many that TA does not work with small cap stocks, but I will tell you my experience is that it works better with these stocks than any other. However, many people refuse to believe what the TA is telling them and therefore say it doesn't work. These people are married to the stock and won't believe anything negative about it. They are the opposite of the NAY Sayers who can't see anything positive about a stock they don't like. In the end the charts are always right because to go higher resistance must be broken and to go lower support must be broken. Trust TA it does work. Little joe