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

To: MonsieurGonzo who wrote (714)	11/22/1997 5:43:00 PM
From: Tom L. French	Read Replies (1) \| Respond to of 1589

Steve Right! RMBS (story IPO with strategic implications someone said) is not one minute, but then there's news there! Right? And as a contrarian, since you gave me that, I'd ask--without more than a quick glance moments ago--based on past experience with these hyper jumps, will it follow through with even more? ...or might it make sense to wait a bit? How, I ask you, can candlesticks help with that question? I just looked at that chart again and there is the answer... hanging man there yesterday morning (on a 30 minute chart). My hunch is that even with all that good volume and gain, just based on the chart and having seen this before and wanting to jump in, it is too late for this move...but let's find another one...you've shown you have some good ideas already. What do you follow BTW? What is your source for learning about INDEX trading. I didn't know that about what level 2 can actually show you; I have figured for a while that it is/will become a necessity. Have it in Paris? BTW sounds very very expensive over there? We get spoilled with these costless calls here. Regards, TomLF

To: MonsieurGonzo who wrote (714)	11/23/1997 10:58:00 PM
From: Esteban	Read Replies (2) \| Respond to of 1589

Steve, >>the OEX went down to around 916~917, which persisted until the close (made a beautiful Hammer on the 90-minute chart).<< SPY (AMEX S&P Spider) made a nice hanging man Friday on the daily chart. Two hours before the close the 60 minute made a perfect bearish engulfing pattern. Both at likely spots on the chart. The strength of the last half hour rally caught me by surprise and is at important intraday resistance now. Strong open would blow my short play away, and I'll have to reverse on the breakout. Noticed that the other indices didn't match the classic picture like the SPY daily. Happy trading, Esteban