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.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (55068)	5/4/1999 12:44:00 PM
From: Jan Crawley	Read Replies (1) \| Respond to of 164684

Michelle, I suggest that you subscribe or "steal or borrow"(<gggg>) a LVL II system and watch the "screens" for a few trading days. I think that's as important as any TAs.

To: Lizzie Tudor who wrote (55068)	5/4/1999 12:50:00 PM
From: Wayners	Read Replies (1) \| Respond to of 164684

I don't really like the Japanese terminology myself. Its a pretty common reversal pattern. Yesterday had a higher than normal daily range with lots of selling pressure and fear. Today we had a gap up and the high today so far has been less than the high yesterday making it an inside day and the daily range is less than yesterday. If we close higher than we opened, then its possible we're at a short term bottom. The psychology, and I'm quoting out of my candlestick book, "Prices open higher, which shocks many complacent bears and many shorts are quickly covered, causing the price to rise further. The price rise is tempered by the usual late comers seeing this as an opportunity to short the trend they missed the first time. A confirmation on the third day, tomorrow, is needed to provide the confirmation that the trend has reversed. A gap up tomorrow is all the confirmation I need. The reversals in AMZN on 3/23 and 4/20 were of another common variety, the piercing line where you have a long down day much like yesterday, followed by a gap down and then strong buying and a close much higher than the open. The top on AMZN at $220 was dark cloud cover. Its the same as the piercing line except reversed. Long up day followed by a gap up and sell down.