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Strategies & Market Trends : Strictly: Drilling II
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To: Bert who wrote (25957)1/17/2003 8:30:58 PM
From: aktony  Read Replies (1) of 36161
 
Bert, according to Nison, the body of the Dark Cloud Cover candle must OPEN higher than the previous white candlestick's high (146.91). The January 16 close (of the white candle) was 146.2 and today's open was 146.2; it did not open above the prior white candlestick's high nor higher than the body (not including the shadow) close the previous day. This has to be watched for confirmation of direction and, imho, it looks to be down.

I read somewhere today that gold stocks are affected by market direction as well as the POG; an overall downdraft takes gold stocks with it when everything else is falling. Let's not forget margin calls requiring liquidation, people getting scared, etc.
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