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

To: The Perfect Hedge who wrote (1000)	12/17/1997 7:36:00 PM
From: MonsieurGonzo	Read Replies (2) \| Respond to of 1589

Glen; RE:" EVI " As I said yesterday, Glen - I think that EVI will bounce up to ~48 and then go back down. The whole OSX.X looks like that (to me, anyway), only EVI is now stronger for the positive press release and upgrade. Good luck on your AOL, Glen! Right now, I think the entire market is going to go down (short term), so you're trading with the trend, IMHO. What's your upside STOP and downside EXIT on AOL ? Your CKR is stormin', baby! -Steve

To: The Perfect Hedge who wrote (1000)	12/17/1997 8:15:00 PM
From: Esteban	Respond to of 1589

Glen, EVI has a star for it's daily candle today, not a shooting star, because the lower shadow is too prominent. It should be almost non existent. A star by itself only shows uncertainity. It takes on meaning based on subsequent candlesticks as part of multiple day reversal patterns. Re:Candles don't take press releases and upgrades into consideration so I'm hoping that the star shouldn't be taken too seriously. I agree that you shouldn't take it too seriously, especially given that today's market trended down after the open. However I believe candlesticks do take news items into account, or at least the market participants reaction to the news. The indecision shown by today's star paints a picture that reflects what happened with EVI perfectly today. Strong open on the news, and then hmmm..... Good luck with it. Esteban

To: The Perfect Hedge who wrote (1000)	12/17/1997 9:22:00 PM
From: ted birnbaum	Respond to of 1589

EVI, If you are short you are on the right side IMHO. The day before the short was a false rally, or tech bounce after several red candles preceding. The key is is closed well within the body of the preceding red candle. The star was generated by the upgrade and the failure to rally beyond the open. In fact it closed 1/8 off from the open. Though it is not drawn that way on my chart it should almost read as a dragonfly doji. And looks like it should resume its downtrend barring any further unforseen good news.