Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: The Freep who wrote (7486)	7/18/2001 8:07:36 PM
From: pressboxjr	Respond to of 209892

Freep.....here is an explanation of a hanging man. It is not the most reliable candle formation unless it has confirmation. There is a sharp sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes at or near its high for the day. This signifies the potential for further sell-offs. Since the certainty for a Hanging Man indicator is low, the trend reversal can be confirmed by a black candlestick or a large down gap on the next trading day accompanied by a lower close. If the open and the close are identical, the indicator is considered a Dragonfly Doji. The Dragonfly Doji has a higher reliability associated with it than a Hanging Man. Hope this helps. Best of luck

To: The Freep who wrote (7486)	7/19/2001 12:28:41 AM
From: skinowski	Respond to of 209892

Support for Q’s at 41 is important. If it doesn't hold, another rinse is likely, prob. into the 1900 area on COMPX. I didn’t have a chance to see Allan’s chart before. Whatever is the meaning of this formation, it IS a range. Eventually it will either hit (break?) support or break out “to da moon”. My bias is that we are not going from here to new Bear market lows. Things are so bloody and screwed up that we will probably end up having a decent rally – with or without a prior additional rinse. Interesting point about ‘max pain’ being over 43 on the QQQs.