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

To: Brennan Wilkie who wrote (11950)	5/9/1999 9:20:00 PM
From: keith massey	Read Replies (2) \| Respond to of 62348

Brennan Not that you want me to mention this again but you are bring up to pennies that have shown downward moves or were flat on Friday on lower volume. We are all holding pennies we would love to go up because we are holding but if they aren't a day trade....well I won't get into it again. You asked me to comment on the TA MACD GREEN!!!! look at it shorter EMA is over longer EMA MACD histogram has huge steep bars.. indicating a uptrend and strong potential for new highs. In my opinion the above mentioned indicators are useless on penny stocks of this type. Price fluctuations of pennies are to large and penny stocks can be manipulated too much for these indicators to have any really meaning. The only type of TA that I find have any use on these type of stocks are general patterns and volume indicators and even these have a limited use. This is why you don't see me rambling on about the TA of penny stocks. Best Regards KEITH

To: Brennan Wilkie who wrote (11950)	5/9/1999 9:35:00 PM
From: the Chief	Read Replies (3) \| Respond to of 62348

Brennan. You can use all the statistical data in the world to support a penny-stock going ballistic or for that matter tanking. The plain truth is penny stocks are even-driven, promoted, and manipulated stocks. If the brokerages walk away IPZ tomorrow...the stock will die. MOMO is the only thing you can rely on....if its there you will likely make money...if its is not...you likely won't! If the MOMO is generated by the pro-daytraders than the stock will move, if the stock has had a massive promotional blitz done in the last 4 days the stock will move. Other than that you really can't look at indicators as you have and come up with a logical reason for it to move one way or the other. There is "little to no" historical data on penny stocks that is either stable or repititious to establish trends. Trends are confirmed or highlighted by these tools. The only "relatively safe" determiation in a penny is the support and resistance levels, and even these are violated by the traders at will! Open for debate! the Chief