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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Northern Marlin who wrote (15967)	11/6/2000 9:13:19 PM
From: Vendit™	Read Replies (2) \| Respond to of 19374

Phil I find candles good for one thing.....one day at a time rather than grouped readings for the most part. The one which formed today is called a spinning top which means that investors are undecided. This mode can be seen as an early warning of a reversal on an uptrend. The thing you want to do now is try to confirm that candle by use of other indicators. askresearch.com After entry into a stock I always change my stochastic daily setting from 15-5-5 to 5-3-3 which shows me a top in the making much faster. WJCI is showing stochastic over 80 which is over bought and also points to a reversal. Williams %R has an excellent ability to anticipate price extremes and many times forms a top or bottom and reverses days before the securities does. Williams showing a possible top. MACD is the only puzzling indicator......it suggest higher tomorrow........ a stop is a good idea IMO if you are in this one. You are protected from a down draft.....but can ride any continued up draft.......trailing your stop each day. JMHO

To: Northern Marlin who wrote (15967)	11/6/2000 9:13:21 PM
From: DOUG H	Respond to of 19374

Hi Phil, welcome to the thread. I'll defer to V on your chart. Just wanted to welcome you. D.H.

To: Northern Marlin who wrote (15967)	11/7/2000 3:13:19 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 19374

Hi Phil, Vendit gives an excellent response IMHO. You would be well advised to read and re-read his post. I would only add the following: askresearch.com Note the bell-shaped volume envelope. Volume picks up on the downtrend, then dries up as the stock moves up. This suggests to me that as the stock moves up, it runs out of buyers, and thus cannot sustain the move. It also suggests there are a lot of sellers, and they haven't yet been flushed out. You must have greater buying pressure than selling pressure for a stock to continue to move up, and with WJCI, this doesn't appear to be the case. I would completely agree with Reid that the stock gives signs that it has run out of steam, and will soon reverse, probably on high volume. The last 15 minute intraday candle supports this as well---a selloff, on 10% of the total daily volume, all within the last 15 minutes. I suspect the late selling will show follow-through at the open, and continue. JMVHO.......... WS