International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Bijan Khazri who wrote (20134)	9/8/1997 12:36:00 PM
From: Gerald Walls	of 35569

I think it is far too soon to speak of a H&S. If today we end up the day with a number very close to the opening, above or below it, the fact that it went down so much and came back, will further reinforce my conviction that we are very near to an "explosive" situation. What you're describing is a hammer and would be a very strong reversal indicator. I hope you're right. On one of the charting threads here one poster said that in his experience the hammer/shooting star/hanging man pattern was the most reliable candle pattern for calling a reversal. Hey, does anyone think that Walter Bullhockey reshorted at eight (during the last reversal indicator, the shooting star) like he said he would? If it does drop back to the previous resistance around six then it would be around a 15% gain. That was a good call.

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