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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (80523)	4/11/2007 2:25:37 PM
From: Davy Crockett	Read Replies (1) \| Respond to of 312908

naw, why don't you wait 3 or 4 days & see how the trend of the stock transpires? If your right, the worse that could happen is that you pay more for entering the trade. GRAVESTONE candle: Why it works: In an uptrend or within a bounce of a downtrend, the stock gaps up. A valid attempt is made to rally the stock, but the strength subsides and the stock falls to close near the day's low at the same price it opened. Failure to follow through with strength suggests the bulls may be losing strength. Although this is not necessarily extremely bearish, it is less bullish, so stops should be moved up or profits taken on longs. For a reversal to occur a weak day is needed to confirm the pattern. Pattern: The open and close are at the low of the bar. Interpretation: A top reversal signal. The longer the upper wick, the more bearish the signal. FWIW I have seen a lot of these the last couple of days...