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Gold/Mining/Energy : Microforum (MCF:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Joe Cool who wrote (362)	1/18/1999 7:31:00 PM
From: J. Plantinga	Respond to of 3896

Joe, I admire you're discipline of waiting for a buying opportunity rather than just flinging yourself head-long into the frenzy. Been burnt a few times myself by (emotionally) jumping in rather than sticking to my 'rules'. IMHO: If the stock behaves like "normal" break-outs, the retrace would bring it back to a point slightly above the previous resistance level, so $1.75 would be a good bet. However, if MCF starts behaving like other Internet stocks (i.e., no logic required), it may never get back to that level. In a slightly longer time frame, I'm expecting it to peak out around $2.60 (based on the depth of the bowl it formed from end-July to mid-December) and pull back 40-50% to the $2.10 - $2.20 range before continuing higher. That's the theory, anyway. But as in every case, reality may be turn out to be something quite different, especially if MCF gets swept away by "irrational exuberance". Cheers, JP