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Non-Tech : Any info about Iomega (IOM)?
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To: KM who wrote (31794)10/10/1997 5:13:00 PM
From: Jeffery E. Forrest   of 58324
 
Duh, I completely forgot to post this!

A bunch of short and medium term buy signals got triggered yesterday. I won't go into them as we have discussed them pretty well already.

The thing I find exciting is the Candlestick formation from the last two days (weds/thurs)

A Harami was formed.
Harami is a LONG bodied 1st candle and a small bodied 2nd candle within it's range.

After a downtrend a Harami signals that the downtrend has ended.

The candles can be either color and in any combination, BUT when candle 1 is a White Candle it is MUCH more bullish.
A LONG White candle is bullish all by itself, so the appearance of a Long White in a Harami greatly increases the chance that the downtrend is over.

It is also more bullish (after a downtrend) when the 2nd Candle is towards the high end of the 1st candle.
If the 2nd candle were towards the low end of Candle 1, that would signal consolidation while the one we have formed signals REVERSAL.

A perfect Harami should have the ENTIRE Candle (body and shadows)within the range of candle 1.
In our case, A little bit of candle two's shadow is above candle one, but it's still close enough to count, especially when taking all our other indicators into account.

The reversal scenario was confirmed today when we closed above yesterdays close.
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