Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: David W. Taylor who wrote (28543)	9/21/1998 8:34:00 PM
From: HairBall	Respond to of 94695

David: "If I had a hammer"....was a popular song in the sixties by Trenny Lopez. <g> Regards, LG

To: David W. Taylor who wrote (28543)	9/21/1998 8:53:00 PM
From: William H Huebl	Respond to of 94695

Dave, Thanks for asking. And anyone else out there who has a question, JUST ASK!!! We all don't mind sharing... we all learn and I know there are areas in which I have been helped just by asking. The short answer is that it looks like a hammer at the bottom of a move down. I will e-mail you the chart showing you what it looks like. And if you are interested in it, there are books out to show you how... I have 2 of them myself plus the info in my charting package. The long answer: There are many different was of plotting price information: Line drawings, bar charts, candlesticks, candlevolume, KAGI, RENKO, P&F, 3 line break and equivolume to name 9. - candlesticks are plotted by drawing a square or rectangle from the open to the close price. The highs and lows, if they extend beyond the box, are line projections... hence the name candlesticks because they look like them. - The general rule is if the close of today is higher than yesterday, the box is white or green. If it is lower, it is black or red... - The Japanese, who developed this charting method long before our country was settled... discovered that some candlesticks or group of candlesticks with certain characteristics had bullish implications and some had bearish ones. For example, the hammer is thought to be extremely bullish. But the same formation at the TOP of a move is called a hanging man and is very bearish. Personnally, I use candlestick charts in my day to day charting... but go to others like 3 line break and KAGI at what I think are strategic turning points... I is my experience that no one charting method, no one indicator or chart pattern is reliable enough in isolation to other re-inforcements to trade on those by themselves. The CLOSEST I can come to a single tradable pattern is the H&S which has, I am told, something like an 80% reliability when the neckline is broken... That is probably more than you ever wanted to know... but I will take any port in a storm and if we ain't in a storm then why are my shoes wet? (Don't say it, DON'T SAY IT!) Bill Quesitons???