COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00160

0.0%

Jan 9 9:30 AM EST

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To: Moonray who wrote (5215)	9/12/1997 5:11:00 PM
From: Jeffery E. Forrest	of 22053

The pattern he's pointing to is NOT a Morning Star. No way, no how. A Morning Star HAS to come as the FINAL pattern in a well-defined downtrend. A Reversal. Actually it's the pattern of 8/27,28,29 that would qualify as a Morning Star! The middle candle is a bit too long, but it's close enough to make a good case for one. The pattern that formed over the last 3 days SHOULD make a decent intermediate support level. This should prove interesting as we have "ok" support there ($49) and THEN the Morning Star which is always EXCELLENT support ($47). Resistance at ~51 and support at 47-49. Tight little space, eh?<g> It can't stay there long. We should pop through 51 easily. After that, NO resistance till 56. BTW- Morning Star criteria: 3 Candle pattern that HAS to come at the end of a definable downtrend 1st Candle HAS to be a LONG Black 3rd Candle HAS to bve a LONG white. Middle (2nd) Candle can be ANY color and is normally much smaller than the other two candles. A more powerful form of the Morning Star is when the 1st and 3rd Candles DON'T touch ANY of the middle candle with the body OR the shadow. Better still is a Doji Morning Star. The middle candle is a Doji. (A Doji is a candle that closes where it opened) A Doji Morning Star where the Doji doesn't touch ANY part of the other two candles (Gaps) is called an "Abandoned Baby" and is the most potent form of all. I think it's called an Island Bottom using a bar chart. Clear as MUD? NEXT-Suicidal Lovers!<G>

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