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Strategies & Market Trends : Strictly ..... Bottom Fishing -- Ignore unavailable to you. Want to Upgrade?

To: Sidney Reilly who wrote (482)	7/22/2009 12:21:59 AM
From: bumblin bob	Read Replies (1) \| Respond to of 489

I'd have to agree with you that LBWR hasn't bottomed, but the long tail on the candle isn't what brings me to that conclusion, it's the RSI and MACD heading south. Add to that the fact that with all of the volume in this stock, it was done using less than $20,000 dollars. It's a pretty good bet that this is subject to manipulation and I would consider it more of a gamble than a trade. Since you asked about candlestick charts I'll direct you here: stockta.com Nice site to start out with .... lots of useful basic information. With TA one day's information isn't useful without looking at the information leading up to it. In LBWR's case, there are so many candles headed both directions that I don't think they indicate much of anything. Sorry that I can't give you a definitive answer, but hopefully I have pointed you in the right direction for useful information on it.

To: Sidney Reilly who wrote (482)	7/22/2009 5:41:24 PM
From: chowder	2 Recommendations Read Replies (1) \| Respond to of 489

A long tail on the bottom means buying showed up when price hit the low of the day. (Sometimes referred to as a bottoming tail.) A long tail on top means selling showed up as price hit the high of the day. (Sometimes referred to as a topping tail.) In order for candlesticks to have any degree of accuracy, you need to have a stock with lots of volume on average. The stock you presented isn't worth the chart it's shown on because of the little amount of volume it trades, some days it doesn't trade at all. If a pink sheet stock doesn't trade an average of a million shares a day or more, candlestick charting isn't going to be very helpful with reflecting what is going on with price movement.