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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (11750)	10/26/2010 8:36:35 AM
From: Chip McVickar	Respond to of 220776

Bob... Thanks for the candle definition link.... I'd say the candle stick pattern that I've called a Cherry Bomb is closer to a Gravestone Doji... "The Bearish Gravestone Doji Pattern has more bearish implications than a Bearish Shooting Star Pattern." candlesticker.com However to be a true cherry bomb it has to close with a negative shadow... create a shadow below the open and closing below the open. Itis very high follow through at about 80% and I've documented it with chart research for myself. The gravestone doesn't call for the shadow and the inverted umbrella doesn't have the previous positive candle or negative shadow.

To: robert b furman who wrote (11750)	10/26/2010 8:40:13 AM
From: Roebear	2 Recommendations Read Replies (2) \| Respond to of 220776

robert, Sorry robert, I know you are sophisticated investor and this is not directed to you personally, but in general to the thread... Are all the candlestick chartists dead?? Who the heck is candlesticker, ggg, I was raised classical, by Steve Nison and his books (says I, a chart snob, ggg). By the way, the first video on the link below is worth the five minutes, especially where Nison talks about the long upper shadows (wicks). I agree we are in a rally, but this is one sign it may not last a long time... candlecharts.com that 'bar' on monday was a shooting star IF it confirms with a lower open and close stock charts has a nice chart reference for various patterns etc. and it is free, shooting star is half way down the page: stockcharts.com Most charting patterns in most books CEASED TO WORK after 2008 crash when the market became manipulated and overly computerized, but they still work at the very largest turns and moves. For the simple reason if you are an ELEPHANT, it is hard to cover your tracks. Best, Roebear