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Technology Stocks : JDS Uniphase (JDSU)

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To: Alastair McIntosh who wrote (11651)	7/21/2000 12:17:02 PM
From: JH	Read Replies (2) of 24042

<The Dragonfly doji yesterday is actually an indicator of the reversal of a bearish trend> Pages 29 - 38 in Steve Nison's "Japanese Candlestick Charting Techniques" discusses how to use the Hanging Man to forecast the market. Yes, it IS a bearish indicator, PROVIDED that there is a downward-bias the following day. Incidentally, Nison does not use the name "Dragonfly" doji to describe the pattern which we saw yesterday. Could be new? It's the first time I've come across it. In generic terms, it's simply a doji with a very long lower shadow with almost no real body. The "Dragonfly" name probably comes from the resemblance of the doji to a toy made from bamboo. A short rectangular piece is shaved to have two opposing airfoil profiles, and then a long, thin, bamboo stick is centered onto it. By putting the stick between your palms and giving it a twirl, the toy takes off into the air like a helicopter. Amazing, huh? I played with one while I was a kid. It's called "ta-ke-tom-bo", which means "bamboo dragonfly" in Japanese.

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