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INSP - Doji + Gap Up

 
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tab321



Joined: 22 Jan 2005
Posts: 368
Location: Texas

PostPosted: Mon Mar 21, 2005 5:18 pm    Post subject: INSP - Doji + Gap Up Reply with quote

This is a Kicker that fizzled but the downtrend may be over with this Doji + Gap Up Signal.
Thank Goodness I stayed away from this Kicker. Obviously, it was made from Short Covering instead of real buying.
The 50 Day MA may present one more hurdle of caution:

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JimSpeer



Joined: 03 Dec 2004
Posts: 136
Location: Milwaukee WI

PostPosted: Tue Mar 22, 2005 8:59 am    Post subject: kicker Reply with quote

I am not sure how one could make the distinction about SHORT covering vs real buying. This may be easy to talk about in hindsight. But the signal sure looked good in real time.

Jim Speer
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tab321



Joined: 22 Jan 2005
Posts: 368
Location: Texas

PostPosted: Tue Mar 22, 2005 12:27 pm    Post subject: Short Covering Reply with quote

Jim

You are right - it would be hard to tell that the "buying" is not really buying but only short covering. In the case of INSP, if it was real buying....and it could have been......then, the buyers got very discouraged very fast and left the scene of the accident.

On the day that INSP made the huge gap up kicker.....I thought it looked good also. It fooled me. I guess that why you need to make sure you exit when the signal fails.
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Bell
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PostPosted: Tue Mar 22, 2005 1:29 pm    Post subject: trendline Reply with quote

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Bell
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PostPosted: Tue Mar 22, 2005 1:38 pm    Post subject: Reply with quote

TAB -- sorry about the last chart post. I was looking at the wrong place on the chart. After looking at your chart I can find no way to explain the failure of INSP.
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Sir Bollinger Band Width
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PostPosted: Thu Mar 24, 2005 6:37 am    Post subject: Kicker? Reply with quote

I don't believe that up "Window" (Gap) was a kicker.

Yes you had the intitial Marubozu. But after that you had a Homing Pigeon followed by the upside window.

This was followed by what could be construed as an Advanced Block except the third candle was black. But otherwise it fit the pattern.

In my opinion this was not a long play at all unless you had inside information to know the upside window was coming. Very Happy
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Plodder
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PostPosted: Thu Mar 24, 2005 10:00 am    Post subject: INSP - Doji + Gap Up Reply with quote

Sir Bollinger Band Width,

That "initial Marubozu" was not a real Marubozu. A Marubozu is defined as a long candle with no wick and no tail. Looking at the candle in question it is obvious that it was an average sized candle with a long tail. Maybe that is why it was disappointing.

Plodder
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