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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Gush who wrote (2737)	12/20/2004 7:10:38 AM
From: Vendit™	Respond to of 8752

DaGushman SUP 139.142.147.218 The setup on SUP Thursday was that it was sitting on the 20 EMA with a MACD buy signal (MOMO volume) about to happen. Normally that would equate to a bounce. This time it did not but rather it turned out to be a short covering sell-off. The candlestick that formed is in the shape of a doji. My remark to Terry simply meant that the candlestick on Friday that formed often times marks a bottom. The higher than normal volume can be considered climatic or what is referred to as a blow-off bottom which resulted from the short position covering on Friday. Buyers may very well step in this morning based on the above evidence. Reid