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Technology Stocks : USRX
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To: Gary J Greenfield who wrote (10303)2/5/1997 12:46:00 AM
From: Chris Vu   of 18024
 
Gary, USRX will go up tomorrow according to the Japanese candlestick charting techniques. Today's prices when charted show a figure known as "hammer", a long lower shadow and a small real body. Long shadow reflects the high and low prices of the day, and the body the open and close prices. If you look at the figure, you can tell that the shorts were hammering the stock down but the longs won out by driving it back up almost close to the open price. The deeper the shorts drive the price down and the higher the stock revovers, the stronger the signal that the market has hit bottom and a reversal pattern is taken shape. According to Steve Nison, the American expert in Candlestick, the Japanese word for "the market is hammering out" is takuri meaning "trying to gauge the depth of the water by feeling for its bottom." Hope I don't sound like that monk who is Grasshopper's master in the Kung Fu TV shows. Good luck to all.
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