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To: stan s. who wrote (42697)4/19/1999 9:52:00 PM
From: Wildstar  Read Replies (1) | Respond to of 95453
 
>>OSX, very bullish pattern here. Luckily no evening star. <<

I'm no candlestick expert, but anytime a stock (or index) has a long upper shadow, that means that there was a lot of resistance, and the stock bounced hard off of the high. Although the pattern wasn't as pronounced in the OSX, it was very pronounced in some of the individual issues. In fact, that was one of the reasons I sold most of my oil service stocks.

FLC
iqc.com

VTS
iqc.com

VRC
iqc.com

HAL
iqc.com

The DJIA also did the same thing today.

iqc.com



To: stan s. who wrote (42697)4/21/1999 10:25:00 AM
From: stan s.  Respond to of 95453
 
Yesterday was a big day for the OSX. What was resistance last week, became good support at 72. Filled the gap as well.

For the lazy trader, here's a weekly chart of the OSX with (5 days compressed into one)...note the buy signals (green arrows) as the
6 period moving average (weeks in this case since it's a weekly chart) crosses over the 10 day. Green line over red line.
geocities.com

Conversely the sell signals (red arrows) as the green line dips below the red.

9 signals in two years. Would have saved some people a lot of grief.