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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Warpfactor who wrote (14369)	6/10/2002 12:13:29 AM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

Warp: Yes, when a chart makes a pattern like that one, a hollow red candle (the longer the better) at the bottom (well, one supposes it's the bottom) of a descent, then it's relatively bullish. What has happened is the stock gapped down at the open, pretty far down, but apparently it flushed out the last of the sellers since the rest of the day's action was above the open; the farther above the open the better. You need to look for a couple of things, though. First is better than average volume. You have that here. Second is you would like to see the stock (or index) open higher or even gap up on the next day. Then you could take a general comfort that the stock had reversed. Only one problem: this logic applies to single stocks. I suppose it applies to indices as well, but I dunno. The weekly doesn't confirm this action so you might just want to wait and see. Mostly the Naz chart looks pretty sickly to me, so I'm a cautious fellow these days. Kb

To: Warpfactor who wrote (14369)	6/10/2002 11:54:34 AM
From: chowder	Read Replies (2) \| Respond to of 23153

Warp, a hollow red candle at a new low, or close to a new low, is usually a bullish indicator when accompanied by greater than average volume. Look at this chart, frozen in time on September 23. stockcharts.com[h,a]daclyiay[d20010610,20010923][pb10!b50!b200!f][vc60][iut!Lh14,3]&pref=G Now here's what I was looking for on September 24. stockcharts.com[h,a]daclyiay[d20010610,20010924][pb10!b50!b200!f][vc60][iut!Lh14,3]&pref=G See that nice gap up? And, it stayed up! That gap gave enough room for the NASDAQ to pull back without re-testing the low again. And, that's exactly what happened. Then the other indicators started to kick in and support a 50% move over the next two months. stockcharts.com[h,a]daclyiay[d20010810,20011206][pb10!b50!b200!f][vc60][iut!Lh14,3]&pref=G I'm not impressed with today's action so far. If we don't see a lot of volume, it would be best to sit tight and let some consolidation take place. stockcharts.com[h,a]daclyiay[pb10!b50!b200!f][vc60][iut!Lh14,3]&pref=G Oh yeah, I'm back from vacation. I still need to unpack and I have some yard work to do. dabum