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Politics : Idea Of The Day
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To: Jason W. who wrote (9442)9/12/1997 7:29:00 AM
From: donald sew   of 50167
 
Jason,

ASND - It really was not a long white day. A long white day is where the BODY of the CANDLE is approximately 2-3 times the length of any of the SHADOWS.

The CANDLE formation yesterday was a WHITE DAY with an equal length UPPER SHADOW and no lower shadow. Let me put it in perspective - if that UPPER SHADOW was about double the length it would become a WHITE INVERTED HAMMER, which is a stronger sign of a reversal and normally precedes a LONG WHITE DAY when the stock is nearing bottom.

In other words, his contention that it was a reversal signal due a LONG WHITE DAY, was partially incorrect. It was a reversal signal since it was a SEMI INVERTED HAMMER.

Seeya
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