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Stock trading

NOTE: the stock chart shown is called a Japanese candlestick chart. A solid candle shows that the mark closed LOWER than it opened. This is a bearish indicator. A candle that is hollow shows that the market closed higher than it opened. Above is a chart of the DOW as of Feb. 17th.

As you can see in November the DOW fell to the 2008 low and then started to climb. Early in 2009, the market started to push up even more and then slipped back, but then stopped at the November low. Although nobody knows the future, I think the DOW will hold at the November low.

I enjoy following the market with the Worden Brothers stock

trading software. You can try this stock charting program free for 30 days.

2/18/09 After falling to the November low on 2/17/09, the DOW continued to hold that low the next trading day. The candle pattern is called a "DOJI" which indicates market indecision and a possible sign of reversal, especially when it appears at support level, such as the November low. We will see, but I continue to think that the market will hold and soon turn upward. So far none of the major market averages have violated the November lows.

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Comment by Phil on March 11, 2009 at 5:11pm: We had a great rally on March 10. March 11th, the market was basically flat (slightly up)
Intermediate and long term trends are still down, but there is now a short term uptrend according to Worden Brothers,makers of Telechart

Comment by Phil on March 9, 2009 at 7:58pm: March 9, 2009. Well, we slipped below the November low. All stock trends (short term, intermediate, and long term) are down. It is interesting to note that some are predicting a market rally this week leading up to a meeting about revising "mark to market" accounting requirements.