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

To: MonsieurGonzo who wrote (690)	11/22/1997 10:27:00 AM
From: Tom L. French	Read Replies (1) \| Respond to of 1589

Steve Yeah it would be nice if MSFT would push up agin, but (and first let me say I haven't been paying much attention recently... I like the drillers) I don't think it will. Lots of negative press, and windows 98 is a minor upgrade on the one hand; but on the other NT is clearly gaining power in the bact office... but then again it's not going to be big enough to really drive earnings anytime soon. Now AMZN is more interesting in a way. I doubt it's going up much more either, but I'd never bet against a hot stock. Trading it yes--it has lots of volatility which is good if you want to ride it up and down. That doji the other day is bearish for the recent uptrend that shows on a daily chart. But I don't know this stock. At some point a good short is probably in the cards. TomLF

To: MonsieurGonzo who wrote (690)	11/22/1997 3:59:00 PM
From: Esteban	Read Replies (1) \| Respond to of 1589

Steve, 300 minutes is an interesting time to choose, more than 1/2 of a trading day. Why that particular time frame? How about looking at 1/2 day candles. My thinking is that the lunch break might signal at least a volume pause that would give a more definite close/open type event and maybe further validate the candlestick. After a day or so of watching intraday index candles I've found the most promise in the one hour time frame. I've only watched 12 and 60 minute so far though. I like to combine one hour candles with a 5 minute bar chart and of course the daily candlestick chart. The 60 minute can develop a pattern while the 5 minute reveals more detail about intraday support and resistance, and intraday trends. Got to keep it reasonably simple though. Otherwise you'll either always find what you want or never be able to make a decision due to conflicting data in the various time frames. Indices should be a perfect fit for Candlesticks. Mass psychology in pictures. Esteban