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To: UnBelievable who wrote (57983)10/29/2002 5:06:26 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
UB, that is when it is a reversal stick, in other words, when it comes at the very top of a move. In its current position, it could just as easily be bullish:

litwick.com

I think it is probably mildly bullish in the very short-term. I would expect strength for the early chunk of the day tomorrow at least.



To: UnBelievable who wrote (57983)10/29/2002 6:09:52 PM
From: Jack of All Trades  Respond to of 209892
 
I refer to those as hammers and should cause some upside for atleast a day. Would like to see it form after a serious of down days to be a better reversal signal from previous bar.

If todays low is broken tomorrow it would be a major sell signal IMO... If tomorrow is followed by a inverted hammer (opposite of today's stick) should be OK to short the close... IMO


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