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Politics : High Tolerance Plasticity

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To: Gottfried who wrote (8442)	9/23/2001 9:15:57 AM
From: chowder	Read Replies (2) of 23153

Hi Gottfried! I notice some interesting items when I pull up the chart for the NASDAQ. Friday's trading pattern is called a "hollow red candle" and quite often an indication that the market is due for a trend reversal. In order for a hollow red candle to appear, the market must gap down at the open and then finish higher than it opened, but not above the previous day's close. Hollow red candles at the bottom of a trading pattern tend to be bullish. In addition to this, we had huge volume of Friday. This was the highest volume day since last April. The other indicators don't tell me much other than the Stochastics are turning up slightly. stockcharts.com[h,a]daclyimy[pb20!f][vc60][iut!Ub14!Ud20!Lh14,3] Any move to the upside will be short lived, in my opinion, and we'll probably see new lows in the near future. However, I'm willing to play a short term bounce here and I already purchased my long positions on Friday. You are cordially invited to join me on the long side if you wish. <ggg> Otherwise, let's see if the technical indicators have the strength to overcome the fear being shown in the market. This isn't the time for courage, I'll cut my losses short if I don't see any signs of a short term rally. dabum

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