I've got Candle Stick Charting Explained by
Gregory Morris somewhere around here.
Amazon.com and pull a page for the above book and you'll get
other related titles.
In a pinch I can
But like anything else it's just a tool, like
traditional bar charts, Point and Figure, Andrew's Forks,
etc...The presentation is somewhat more dramatic and
sometimes gives short-term trade signals.
I have a
core long position, but have traded 1/2 to 1/3 of my
scln shares allowing me to accumulated
I've got some concerns re: the indices and market
internals going forward. I wish we had started this run
Will look at QDEL. Thanks.
"(I've seen chart patterns,
triangles, for example, where the baelines and slopes are
technically violated but the overall pattern holds. Same with
fibs. It's a sloppy world out there.)" Ain't that the
I will lay off this triangle discussion as I have
never used the formations in such short term [2-day]
situations. Maybe I will develop a taste for it later, but I
am not a day trader and use other indicators to try
and pick sell points.
I'm with the hold to 100
and beyond crowd and I got me a POSITION in this
stock starting at 2 and up.
Another nice medical
sector play is QDEL. Take a look at the chart, very
strong, 24/7 plant operation, great test kit product
line, looking for 30 in Dec., now at 10+. In since 5�
and added at 8. QDELW, a little high now, gives you
BTW, what is a good
reference for understanding candle stick charting?
For the moment ignore the 22 3/4 high.
you pull that 60 min. candle stick chart again, look
at the first big red candle (3/8 at open)from just
below 22 which extends down to 16 1/4 then look at the
red candle (3/9 at open) that extends from about 18
1/4 down to 16. (I was the highs and lows for each
day on large red candles that caught my eye in the
Connect those two tops and
It fits the definition of:
1) The second high
point in the triangle has to be made AFTER you have
found the bottom resistance.
2) After making the
second high point, you come back down to the SAME
baseline as on the first test.
16-16 1/4 is close
enough to the SAME baseline for me--chart patterns
rarely work out perfectly (intra-day and short-term even
more so,) but often good for timing entry and exit
points. Certainly better than a wild guess. I was able to
pick up some shares cheap near close on 3/9--again
thank God for the IBD news.
I think what this
tells us, if nothing else, is that we have some support
in the low 16s that could hold in a larger down
draft from higher levels.
(I've seen chart
patterns, triangles, for example, where the baelines and
slopes are technically violated but the overall pattern
holds. Same with fibs. It's a sloppy world out there.)
Do you want to send your kids to camp or put them
all the way through college? If you want to send them
to camp, sell. If you want to put them through
college, don't sell.
SCLN would be the last stock I
would sell now. It has way more upside than Intel. It's
not even a contest!
My conservative 1 year
target for SCLN is $60/share (market cap 1.5 billion).
My optimistic target is $140/share (market cap 3.5
does not exist: but, you can read a synopsis of
the article by those who have read it
:INVESTORS BUSINESS DAILY ARTICLE:
:Synopsis of IBD article:
:Synopsis of Investor's Business Daily article on