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Strategies & Market Trends : Waiting for the big Kahuna
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To: Bull RidaH who wrote (24888)8/22/1998 4:30:00 PM
From: stan s.  Read Replies (3) of 94695
 
David, with all due respect, you can't use a hammer or hanging man to predict a
continuance or reversal of a 450 point move.

They might signal a move...which eventually could result in the end or beginning
of a bull run.....but their value rests in the predictive quality of stock movements
of a shorter duration.

I think X made it clear in her comments that she she was using the formations as
a tool for defining what Monday might bring....not a longer term scenario.

By the way, whether one views Friday's Candlestick as a hanging man or a hammer,
both are a stretch...the open and close on the DOW anyway....was a bit wide
in relation to the shadow.

The safer read would simply be a bullish long lower shadow.

Excuse the intrusion.

Stan
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