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

To: k.ramesh who wrote (1258)	4/18/1998 10:18:00 PM
From: MonsieurGonzo	Respond to of 1589

k.ramesh; RE:" AR " >Since you mentioned AA , I also looked at AR, what's your read all I can see is a doji about 3 days back. New to this so pl. excuse. Ramesh... Well, you're a natural Ramesh, because it's a really pretty Doji evening Star you found there. Also a double-top. He's a turtle, Ramesh, with some support at 26, -3/4 point from Friday's close. He could go sideways in a little box, bouncing back and forth between Morning Stars at 26 and Evening Stars at 27-3/4 - and all those candlesticks would be valid reversals! If I owned AR stock, I might be inclined to write a covered CALL - the MAY 30C is AREF and it's 0 BID x 1/4 ASK on my screen (^_^) The JUN 30C is ARFF and it's 5/16 BID x 9/16 ASK. Not much of an incentive to hedge a long position {grin} The MAY 25 PUT is ARQE and it's 1/16 BID x 5/16 ASK. I guess if I owned AR, Ramesh, and didn't want to lose my +20% gain for the year, (and didn't have to worry about taxes) I'd just use a STOP or something - dunno - difficult play on the downside. Maybe the best thing for the AR investor is to think, "another buying opportunity coming up". But he sure is a pretty Doji Evening Star, Ramesh ! Now take a look at WLA - he's made a pretty reversal, too - with a Hammer in a Morning Star - and that baby ain't no turtle ( +6 points Friday ;-) -Steve