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To: sandintoes who wrote (19120)5/11/2000 10:47:00 PM
From: Hawkmoon  Read Replies (1) | Respond to of 28311
 
equis.com

Hope this helps.

A "hammer" is indicative of a trend reversal... where the stock hits its low for the day and then retraces back upward, leaving a leg or "shadow" that is below the opening and closing price.

For example, today we opened higher on the Nasdaq. And then we tanked to retrace to yesterday's closing lows. After that we worked our way back up and stayed there for the rest of the day:

siliconinvestor.com

So what we got today was a reversal of sorts, but not a very convincing one in my opinion. The jury is still out, especially with the govt reports coming out tomorrow morning and the FOMC meeting on Tuesday. Those types of events will be what guide the market for the next month or so until the next tranche of pension fund money needs to find a home.

Regards,

Ron



To: sandintoes who wrote (19120)5/11/2000 10:56:00 PM
From: HO-MEE  Read Replies (1) | Respond to of 28311
 
Sandintoes, Ron is wrong, a "hammer"is what we all have been hit with the past 6 weeks......