To: Beans who wrote (148 ) 2/27/1999 12:47:00 AM From: MIKFREE Read Replies (2) | Respond to of 295
Beans, from what i have been told so far, today was a VERY good sign for HELE: To: MIKFREE (who wrote...) From: Jeff Roberts Friday, Feb 26 1999 6:01PM ET Mike, Regarding HELE, I am just starting my DD, but with my initial chart I have found something quite frankly that could be exciting. It has a support at 13 and has consistantly bounced off of it and did so twice in the last 2 days. But more interesting then that is today it formed a candle pattern of a dragonfly doji. These normally appear at market turning points. Put together with the last few days this could also be called a Hammer Pattern. I will quote from my book " the market has been in a downtrend, so there is an air of bearishness. The market opens and then sells off sharply. However, the sell off is abated and the market returns to, or near its high for the day. The failure of the market to continue the selling reduces the bearish sentiment and most traders will be uneasy with any bearish positions the might have. If the close is above the open, causing a white body, the situation is even better for the bulls. Confirmation would be a higher open with yet a still higher close on the next trading day." In short, if this market were to cooperate, and HELE opened higher on Monday, you could see a very sharp rise over the short term from short covering, and new bulls building positions. I don't know how to send you a hyperlink, but if you go to www.litwick.com they have a good sight for explaining candle patterns. I am going to research this more and will get back to you. RE TKLC it is still looking like it wants to rebound and I will be building a position in it if the market begins to cooperate. Sorry for my long windedness:) Jeff PS If you know how to attatch a hyperlink, I would appreciate your letting me know as it is something that I should know how to do. I don't know about this hammer pattern, but it sounds good to me. And anyway, 16 looks like easy pickins, in a few days from now. Guess we'll see soon enough. Good stuff. By the way, if you are interested in a stock with a somewhat similar pattern, take a look at tklc. Takes about a month to get from 10 to 20, so far. Is at 12 and change now, and seems to be making it's ascent, although a bit shaky lately, probably because of this damn crazy market. Cheers, Mike