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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?


To: MonsieurGonzo who wrote (30764)12/9/1997 10:25:00 PM
From: donald sew  Read Replies (1) | Respond to of 58727
 
Steve,

Just love those candlesticks, and from your note it is very obvious that they you understand the psychology of the candlesticks. Since they do deal with psychology there will be many different interpretations due to subjectivity. Guess that is one of the main reasons why candlesticks are my favorite indicators - and so poetic.

On Monday the CEX opened at 473.97 and closed at 473.41. Relatively speaking since it is close to a 500 point index, to me I interpret that as the same. The low for the day was 472.71, so there was a lower shadow of about .6 which is not much but still not shaved.

As for "SHOOTING STARS" I am from the camp that feels that it is necessary for it to gap, just a difference of opinion. The gap enhances the psychology of a neutral day (star or middle doji), which to me enhances the probability of the next day reversing or even gapping down.

You are so correct with your comment of combining patterns.

Thanks for sharing your thoughts on the candlesticks. And thanks for the invite, someday I will take you up on that.

Since, my system is so mechanical it is a pleasure to have the subjective appear.

Seeya and thanks