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

To: Jill who wrote (5837)	3/4/2005 6:26:16 PM
From: Vendit™	Respond to of 8752

Jill, Hammering out a bottom. Hammer shaped candlesticks formed on down trends reveal a shift in investor sentiment on an intra-day basis. I.e., a stock starts off trading and begins to drop. As the price drops open short positions are covered and the price keeps dropping until all of the short open interest shares have dried up. Once this happens the bulls take over and because there are no more sellers this pushes the price back up to or past where it opened by EOD. The resulting shape of the candlestick is that of a Hammer. Please see the chart: themarketwind.com In the above chart I have drawn arrows to a number of bottoms marked by hammers which were followed by strong up-trends. In addition I also point out the stochastic buy triggers as well as the William’s %R that shifted its trend to up today. All of this evidence makes a strong bullish statement that AAPL is headed higher during the coming sessions……unless the major markets decide to go flat. Reid Ps: I like your ship, The Queen. Would you like to see my Queen picture? <g>