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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: flyeguy99 who wrote (30883)9/24/2000 4:26:55 PM
From: Casaubon   of 42787
 
I stated early on friday that the move had the potential to form a bullish counter attack line. I believe that is how this stick can most closely be labeled. The gap down with the close at the high is the hallmark of such a counter-attack at the end of a downtrend. The day did not have the feel of a hammer day (which usually leaves me with a more secure "feeling" of the ensuing rally). Oddly enough, the questionable nature of the conter attack line can sometimes lead to a more healthy sustained rally than a hammer because it is harder to identify the move. Since the nature of the reversal is more in question, people continually jump into the ensuing rally late and with disbelief.
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