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

To: ted birnbaum who wrote (949)	12/14/1997 9:17:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 1589

Ted; RE:" INDU, COMPX weekly candlesticks..." Yeah, I agree completely with your observations, Ted. I thought we were gonna tank after Thanksgiving week, when we had the bearish engulfing (daily) candle followed by a pair of Dojis, one of them a Gravestone. I had OEXXH 440 PUTs on that basis. The reversal failed, and the rally Friday before last took me completely by surprise. I held the PUTs - we're back where I bought them - but the decay in time value gave them a haircut {grin}. I sold to close them near the low this Friday... ...because I am expecting a bounce; some kind of retracement from INDU's busted UpTrend. I mean - if we don't bounce here a bit, what we got is a kind of waterfall-looking downward crash scenario on the index charts. - All the indices - I'm scanning now for puffed-up stox that have so far escaped damage. AMZN ? BKS looks possible; GUC ? what's holding up AOL ? Let's make up a list and send it to Santa! (^_^) -Steve