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Gold/Mining/Energy : PYNG Technologies -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (2190)	5/12/1998 2:43:00 AM
From: Michael M. Cubrilo	Read Replies (1) \| Respond to of 8117

The only word of caution I would have is my experience with Nortran Pharmaceuticals (NRT). After a decent run up (during which I sold 70% of my holdings), the stock has dropped on the much anticipated news release of a major deal with a European Pharmacuetical company to further Nortrans heart arrythmia drugs. I was surprised at the drop, as this was the news we had been hoping and waiting for! I was surprised to see NRT act like some junior mining stock which often drops on good news. Some of the other pharm. stocks are moving nicely, such as IMT and IZP. I have held and doubled on PYT in the past, but currently hold no shares. Chart looks like it is ready for some news. I would guess it would go up, just because it has been drawing a straight line for quite some time and investors are anxious. Perhaps that is why NRT dropped, it had been on a 45 degree slope (upwards) for some time. Good luck Chief, mike

To: the Chief who wrote (2190)	5/18/1998 5:36:00 PM
From: Ward Nicholson	Read Replies (1) \| Respond to of 8117

Chief: You base the direction on this stock through TA. I continue to disbelieve pure TA is applicable. If it were to reach $3.00 as both you and Pierre hope it would, it would have little to do with TA but more importantly the lack of an appropriate news release. Which, of course (from your perspective) would support "TA" as accurate. Not true!! It is very similar to "chicken and egg" I never did respond to this. For some reason you insist on bringing casual factors to bear on the situation. What you don't seem to appreciate is that from my perspective it matters not what will sink PYT down to $2.75. The breakdown in PYT is simply an event with a high probability based on its trading behaviour. Regardless of what your fundamental reasoning for the drop is, i.e. "lack of an appropriate news release", how can you possibly invalidate TA based on fundamental reasoning? Do you realize that you're inappropriately mixing two theoretical constructs here? The only answer I can come up with is your inability to accept that the market is not necessarily logical, and that while cause-effect relationships may sufficiently explain market behaviour, they are not necessary. WN