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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: IHateSourCream who wrote (4810)	2/10/2005 6:11:45 PM
From: Vendit™	Read Replies (2) of 8752

IHSC YHOO looks like it made a bottom reversal chart pattern today for several reasons. 139.142.147.218 In the above chart I tuned the stochastic oscillator to fast. This allows me to see tiny movements in the prices on the main chart above. Note the stochastic lines are now in the 20 area on the scale and you now have a confirmed BUY signal in place. Secondly look at the candlestick that formed today. Its shape is like that of a loli-pop. Its true name is a “hammer” and you will see it several times along the chart where bottoms formed and stochastic lines crossed similarly. Lastly Williams %R is pointing up which is another confirming buy signal. This all points to a pop up in the morning and a trend reversal over the next several sessions IF THE MARKET MOVES IN THE SAME DIRECTION, UP. This is my technical opinion. Reid

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