Tonight we have the board's chief airhead-voice --- the same who ran by that NLS had "pretty good" risk at some 300% the estimated risk of the S&P --- telling us that, if we are devotees of "candlestick charting," then, man o man, we'd better cover. Why? OOhh! There's a "reversal hammer."
Technicians agree on some things. The first principal is that ALL telling aspects of a chart must be read together.
To give a good example of how utterly ridiculous is a post like Holy Airhead's, have a close look at the two candlestick "reversal doji" on September 26 and 27, 2002 --- the last two days before NLS dropped from 27 to 17 in about a week! (The difference between a "reversal doji" and a "reversal hammer" is a very slight difference in vertical height of the thick part of the candlestick. Statistically nothing makes a reversal hammer more predictive than a reversal doji. Two dojis together would generally be regarded as more predictive than a single revesal hammer.
THE POINT IS NOT MERELY THAT THESE TWO "REVERSAL DOJIS" WERE NOT ONLY NOT PREDICTIVE, BUT THAT THEY WERE 1 PIECE OF DATA IN A COMPLEX PICTURE. Effort like Translucent Airhead's to treat chart reading as a hook in a TV commercial voice's post on a message board, are of the same quality as this voice's previous efforts to sucker and hype.
ericvann2000 -- I feel compelled to qualify regarding predictive value of hammer bs. Cast carefully as a yes/no indicator I believe it has the potential to develop far beyond 0% accuracy, and in principle might someday approach 50%.
For all the labor that you put into message 21025, which I must admit was quite alot. The bottom line is the stock is up today, confirming that a possible bullish reversal is evident. As I said before, I enjoy your demeaning comments about me and others because it merely shows the true calibur of a person that you are. Even if you called NLS right 100% of the time, and maybe you have up to this point, who cares. It's what comes out of your mouth towards others, especially those who might have a different opinion then yours. Continue to glory in yourself, call us all puddle-critters or worse. You may be King in your own mind, but you have no followers, especially due to the way you treat everyone on this board.
Don't cover King TropicDeposit. I posted because I thought the candlestick info was beneficial, not so you'd have an opportunity to exhibit your vast wisdom again. Frankly, all our wisdom, yours and mine, falls flat before the eyes of God.