“A chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses or “engulfs” the previous day’s candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire candlestick from the previous day.
As implied in its name, this trend suggests that the bulls have taken control of a security’s price movement from the bears. This type of pattern usually accompanies a declining trend in a security, suggesting that a low or end to a security’s decline has occurred. However, as usual in candlestick analysis, the trader must take the preceding and following days’ prices into account before making any decisions regarding the security.”
Now that you are familiar with this pattern take a look at the NASDAQ Technical Picture
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RIMM today, not bad!
GOOG not bad, up 20.
Last time that happened the naz rallied up to 2400+
Some how I feel we will see much downside first…I like your HEES…are you familiar with PWR which also did alot of work in your area after Katrina?
Not familiar with it, but looks interesting.
I’m waiting for $20 ish…they might pick up alot of work if Ike does some damage….peace