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


To: yard_man who wrote (33865)11/17/1998 7:26:00 PM
From: Haim R. Branisteanu  Respond to of 94695
 
Tippet. A shooting star forms wen the close is slightly below the open but intraday the stock traded well above the open.

If the body is of the engulfing type e.g. the price swing bigger than previous day it signals a down draft.

Wen this price behaviour is at the end of a strong rally like in IBM case it is deemed as very bearish usually short term, until other formations may or may not deny the change in trend.

It is actualy the opposit of a hammer.

BWDIK
Haim