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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: MonsieurGonzo who wrote (644)	11/18/1997 8:44:00 PM
From: ftth	Read Replies (1) \| Respond to of 1589

Glad to see this thread back to life again! Right now my candles are concentrated on shorts. The initial screening criteria I'm using are: --Not thinly traded or < $15. --Below its 30 ma; 30 and 50 ma in decline. --Weak relative to its leading performance earlier in the year using RSI(14) and relative strength compared to the full universe over several recent periods. --In distribution based on money flow oscillator and money flow line. This gives the list of 94 stocks (through today's data) shown at the bottom. From here, the next level screen is: --Low short interest (<3-4x avg daily vol) --Industry group ma declining; group chart below 30 ma. Then: --Still up big (>25%) on the year (room to fall freely). --Ideally it has just rallied UP to or near (depending on support areas nearby) its 50 day ma, then showed a nice topping candle pattern (the short sale setup), and has at least a 3:1 reward:risk ratio (in other words it has clear nearby support AND isn't going to run into any clear resistance to a downside move until it moves at least 3x the distance between the short sale level and the buy stop just above overhead support) . Copy this list into your favorite charting package, have a look at the candles (and whatever short criteria you use) and let's talk about your favorites: The 94 candidates that made it thru the 1st level screen are: (as of 11/18 close) ACF ADEX AEIS AGPH AMAT AOL APEX APM ARA ASMLF BAC BINX BRKS CAM CDX CGNX CLST CMOS CNC CPQ CPRD CRYSF CYMI DCO DDIM DELL DMIC DPMI DSLGF DSWLF DWSN DXO EGLS EGRP FINE GSNX HAYS HQ HRBC HTCH INTC INVX IPEC KCS KLAC LEH LSCC LSS LVEL MAVK MCHP MDCC MFAC MTLM MTW MXIM NOBE NSM NSS NT NTAIF NVLS OCOM PAGI PAUH PCAR PDE PESC PLAB PLXS PRIA PRLX QFAB QNTM RCKY SII SMTL SNUS SPCT SVGI SXC TBDI TKR TMAR TRF TSK UTEK UTR VLSI VSAT VTSS VVUS WDC ZOLT dh

To: MonsieurGonzo who wrote (644)	11/18/1997 9:50:00 PM
From: ted birnbaum	Read Replies (1) \| Respond to of 1589

Agreed todays candle for DELL says TOP on the very short term ( looking at the day candles) the weekly candle looks like a shooting star need to see the next one. The funny thing about candles is news trumps candles but its amazing how candles predict the news sometimes. Or maybe not if you believe in leaks and insider info. Btw take a look at the weekly chart for CTXS you see a very similar pattern but the gap up is much less. The daily is looking much better today (if you are short).