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Strategies & Market Trends : Complacency Indexes -- Ignore unavailable to you. Want to Upgrade?

To: MechanicalMethod who wrote (987)	4/25/2002 7:00:12 AM
From: Monty Lenard	Respond to of 1487

Well an inverted hammer is an inverted hammer. I don't worry about congestion. The inverted hammer after the downtrend lately in CAT is an indication that it will go up today. Now you need to understand that I use them for scalping. The candle will tell you the direction but not how far and how long. I scapled SBC Tuesday on the hammer. I did not go long when the hammer was formed Monday but I did when they gapped it down the next day. That was the signal "TO ME" that it was a perfect set up for a Morning Star. Right now I am and would only trade the very strongest ones and I don't stay long. When the market is trending one can use the weaker and more suttle ones but right now no. Monty