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Steve,
How about your opinions on candlesticking for commodities and futures?
Do you feel that they give reliable/valid signals?
Are they more or less valid on say...financials as opposed to the grains?
Speak to me, man!
-Corey Saxe
----- Original Message -----
From: "Steve Karnish" <kernish@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Thursday, March 01, 2001 4:47 PM
Subject: A handle on candles
> List,
>
> Since some of you have probably received the paper "proving" that
> candlesticks are useless...I thought it might be a good time to jump in
and
> stir up the pond.
>
> Candles are between 137 and 521 times better than bars. Take it from a
> technician who has read Edwards and Magee ten times.
>
> I monitor, then buy and sell, 50 stocks (key components of the Naz 100,
Dow
> 30 and S&P 500). Of the 50, approximately half of them have posted rather
> significant "bottoming" candles today. The crude breakdown is:
>
> Hammers: MER, MDT, HDI, DYN, MCHP, VTSS, PAYX, RATL
>
> Bullish engulfing: ALTR, VSTR, MXIM ERTS, CMVT, CIEN, SEBL
>
> Piercing: ATML, KLAC, LLTC, ORCL MOLX, AMAT, PCAR
>
> Unless one approaches the markets with a completely mechanical system,
which
> I do, all interpretations of charts and indicators involve a lot of
> subjectivity. Having said that: the above stocks, in general, should
enjoy
> a nice bounce because of the pattern of "supply and demand" that is
> graphically represented by the candles drawn today.
>
> The markets will always do whatever they want to do...but, the candles
drawn
> today suggest we are in for a good bounce.
>
> Steve Karnish, CTA
> Cedar Creek Trading
> http://www.cedarcreektrading.com
>
> ----- Original Message -----
> From: "Lionel Issen" <lissen@xxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Thursday, March 01, 2001 7:27 AM
> Subject: candlesticks
>
>
> > A few months back someone posted a comment about candlestick charts. I
> think
> > he mentioned that his daughter had done a study and found that the
> patterns
> > are random. Would the writer will please e-mail me privately and let me
> know
> > if/where I can get a copy of this paper, I'd appreciate it.
> >
> > Lionel Issen
> > lissen@xxxxxxxxx
> >
>
>
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