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Strategies & Market Trends : Japanese Candlestick Techniques

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To: steve wong who wrote (22)	7/7/2000 12:50:35 AM
From: ehasfjord	Read Replies (1) of 60

RE: Bullish news on CMGI. Sorry about the late response, but on the daily chart, my take is that it's a false hammer. If checking the stochastics (K = 7.22 and D = 12.40) + no positive divergence, even though it was up 1/4 at the end of 7/6, I still believe that CMGI is heading down further. Check out the hourly for 7/6!!! There is one UGLY hanging man at the end of the last period! I still would want some confirmation on this -but- I still think CMGI is headed for below 40 and perhaps mid 30's before this carnage is complete. JMHO Eric

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