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To: Timelord who wrote (3168)11/19/1997 10:56:00 AM
From: SJS  Read Replies (2) | Respond to of 95453
 
NE exploding to the upside, now up 3/4!!!



To: Timelord who wrote (3168)11/19/1997 10:57:00 AM
From: Lucretius  Read Replies (1) | Respond to of 95453
 
I love my NE! UP 3/4 @ 33. MGT has 8 million shares left to buy back. They'll take care of ya!

-Lucretius



To: Timelord who wrote (3168)11/19/1997 11:49:00 AM
From: Tom L. French  Respond to of 95453
 
Alex

"One of the indicators I have been watching is the "window" (gap)"

A big help for me with candlesticks and windows was learning that (and Nison makes this point, but it's buried) that candlesticks are best for short term... one to ten day timeframe. Often with a window there's already been a lot of buying (which shows on an intraday chart, I'm learing), and except with very big white candles which are ragingly bullish, the bulls very soon loose their conviction.

Your example from earlier of NE and the opening gap on the 17th is a good example I think. A lot of buying had already taken place from the previous days low, which you can actually even seen on the end of day chart, and the spinning top which appears, with a long leg (almost a doji, but not quite), indicates that the bulls may have lost their conviction--they could only take it back to the opening and not higher--and that the bears may regain control...which, of course, is exactly what happened.

What does seem consistent (and Nison says this) is that the price comes back to the window, and if the window stays open--price finds support there--more upside is somewhat likely, but it can be a case of consolidation rather than more gains right away; but if the window closes, more downside will very likely, almost surely, follow very soon.

Good trading!
TomLF