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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: majormember who wrote (2609)8/21/1998 3:00:00 PM
From: Rashid Garuba  Read Replies (1) of 59879
 
Skane,

PMFJI. That is one of the best ways to determine a bottom. The volume should be higher than any of the prior 2 days. What happens is the final hold-outs finally give in in a flurry of selling. After this group there are not enough sellers left to continue the decline. ICOM is a good recent example. Doesn't hurt if this happens at a key support area/moving average. The bar created is called a "lizzard".

ICOM is a good recent example. If there is market armaggedon, even this rule may break down, though. Rashid
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