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

To: Greg Butcher who wrote (735)	11/23/1997 4:59:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 1589

Greg; RE:" Most Bearish Signal..." The Gravestone Doji, without a doubt. Upside-down crucifix, with OPEN and CLOSE equal or nearly equal; long line up, short line down (or no line at all down). I'm tempted to sell short as soon as one of these appears, without waiting for confirmation. Second would be a Shooting Star, gap-up (body) from the preceeding candlestick, with the following (third) candlestick gap-down (body). This is called an Evening Star. If the middle candle is a Doji, or a Gravestone Doji - even more powerful. >> Just do a scan for Dojis or near-Dojis, Greg. They are easier to spot with computer scans. Set your tolerance for delta between OPEN and CLOSE at ZERO (perfect Doji), 1/8 or less, and up to 3/8 or less on a weekly chart candlestick scan. Works great. Rank your list by perfect, then near-perfect Dojis as the first sort; then rank them within these groups by P/E (or EPS if earnings are negative), or something that shows "fundamental" over-valuation. BTW, please post your Doji Scans here, folks !!! -Steve