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Strategies & Market Trends : Candlestick Charting--The unknown indicator
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To: The Perfect Hedge who wrote (879)12/6/1997 2:15:00 PM
From: MonsieurGonzo  Read Replies (2) of 1589
 
Glen; RE:" CKR and EVI..."

...yeah man, that is a scary-lookin' Doji on CKR,D though no indication on the Weekly Chart. He looks lilke he maight re-trace to around ~39 after bustin' that DownTrend line, which would be healthy, actually, if he did.

You got me hooked on EVI SII VRC ever since you brought the sector to our attention, Glen. All three of these have very similar-looking candlestick charts. Looking at their recent retracements from lows, they break down as follows:

EVI from 47 to 54 = +7 points = ~ +15%

SII from 60 to 72 = +12 points = ~ +20%

VRC from 24 to 28 = +8 points = ~ +33%

EVI and VRC also stopped falling (and found support) on their long-term, weekly chart UpTrend Lines, too. SII fell a little past his magic line :-)

In many ways we have a similar feeling about following a few issues closely and getting to know their character, Glen. Unfortunately my interest has always been more narrowly-focused than I realized; I used to think MSFT INTC AMAT DELL QNTM CSCO was a "diverse portfolio" :-) and now I know how much it hurts when these high-flyers all go down.

It's been good for me to start following indices and their underlying components - I never used to look at winners like BMY before.

Whatcha think of DIS,W ? Short MickeyMouse for Christmas? :-)

-Steve
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