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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Atin who wrote (23534)	11/7/2001 4:26:49 PM
From: Lee Lichterman III	Respond to of 52237

You could be correct but I use them as topping indicators as well. I think Chip calls them "cherry bombs" but I always called them gravestone dojis. I checked litwick.com and they agree with you. I think Don used the term same as I did, though I could be mistaken. I'll ask him tonight if he doesn't post the answer here first. Good Luck, Lee

To: Atin who wrote (23534)	11/7/2001 4:44:39 PM
From: Susan G	Read Replies (3) \| Respond to of 52237

Looks like a perfect gravestone doji to me...on COMPX and NDX On the weekly compx chart, thats how that April wedge ended its run..with a gravestone doji right as it was trying to break through the 20ema on the weekly. They can happen at tops and bottoms of trading ranges...bullish ones at bottoms are also called inverted hammers. And at tops they are also called shooting stars. Here's the stuff from litwick... Shooting Star / Gravestone Doji Bearish Pattern: Reversal Trend: Bearish Reliability: Low/Moderate How to Identify it Small real body at the upper end of the trading range Prices gap open Upper shadow usually at least three times as long as the real body No (or almost no) lower shadow What it Means The market gaps open above the previous day’s close in an uptrend. It rallies to a new high then loses strength and closes near its low: a bearish change of momentum. Confirmation of the trend reversal would by an opening below the body of the Shooting Star on the next trading day. If the open and the close are identical, the indicator is considered a Gravestone Doji. The Gravestone Doji has a higher reliability associated with it than a Shooting Star. Inverted Hammer / Gravestone Doji Bullish Pattern: Reversal Trend: Bullish Reliability: Low/Moderate How to Identify it Small real body at the lower end of the trading range Upper shadow usually no more than twice as long as the real body No (or almost no) lower shadow What it Means As the market opens below the close of the previous day, the bulls rally briefly, but not enough to close above the previous day’s close. As this leaves shorts in a losing position, the Inverted Hammer presents the potential for an upcoming rally. Confirmation of the trend reversal would by an opening above the body of the Inverted Hammer on the next trading day. If the open and the close are identical, the indicator is considered a Gravestone Doji. The Gravestone Doji has a higher reliability associated with it than an Inverted Hammer.