Saturday, September 25, 2010
It is one thing to talk and quite another to do and I am delighted to tell you that Ratan Tata has kept alive the legacy of perhaps India's finest industrialist J.N. Tata.
Something that some people doubted when Ratan took over the House of the Tata's but in hindsight, the best thing to have happened to the Tata's is unquestionably Ratan.
I was amazed to see the extent of corporate philanthropy and this is no exaggeration.
"Oh please, Mommy. Can I have them? Please, Mommy, please?" Quickly the mother checked the back of the little foil box and then looked back into the pleading blue eyes of her little girl's upturned face. "A dollar ninety-five. That's almost $2.00. If you really want them, I'll think of some extra chores for you and in no time you can save enough money to buy them for yourself. Your birthday's only a week away and you might get another crisp dollar bill from Grandma."
As soon as Jenny got home, she emptied her penny bank and counted out 17 pennies. After dinner, she did more than her share of chores and she went to the neighbor and asked Mrs. McJames if she could pick dandelions for ten cents.
Friday, September 24, 2010
A break out today and pull back towards the break-out point:
Watching the actual break-out post the pull back in "1 Min Chart":
Thursday, September 23, 2010
Whipsaws/ break of channels are likely in this band of 5885/5925 to 6000/6025.
Wednesday, September 22, 2010
The following are the Highs and lows of the extremes of this rising wedge channel.
Tuesday, September 21, 2010
The spinning top candlestick consists of a short body with a longer wick on either side. The length of the wicks may vary, but they are both longer than the body and similar in length to each other. This pattern is similar to the long-legged doji, but with a slightly larger body.
The spinning top can be white or black, with both having important implications for the future of the trend. A white spinning top means that the market fluctuated but closed just a bit above its opening price, while a black spinning top denotes that it fluctuated but closed below the opening price.
A spinning top is a powerful indicator that the market is indecisive. There has been significant buying and selling activity, but at the end of the day the stock closed not far from where it opened. Both buyers and sellers reigned at different parts of the day, but neither made much headway. In other words, the buyers and sellers are in a tug of war, but neither side is showing a clear advantage. This is especially significant in trending markets because it indicates that the trend is losing momentum. A spinning top can indicate that there is considerable indecision that may result in a trend reversal. The market has moved higher, then sharply lower, or vice versa.
Your Next Move
Single sticks reflect only one day’s trading and thus must be considered within this context. For example, if a white spinning top occurs after a long white candlestick, it means the bullish trend is weakening. If it is observed after a long black candlestick, it can mean that there is a potential reversal of the trend. Vice versa, a black spinning top after a long black candlestick indicates the trend is weakening, while the same candlestick after a long white candlestick can predict a reversal. While the spinning top is a significant pattern, it is not considered a reliable enough indicator to warrant action on its own. The spinning top can predict a reversal or an interruption, but it also may be part of a continuation pattern. You should not act based on a spinning top candlestick alone.
The spinning top candlestick should be considered along with other candlesticks to determine the trend. Depending on the trend up until that point, confirmation can mean i) a continuation of the upward ; ii) or downward trend that the spinning top forecasted, iii) or even stagnation. However, do not take action without confirmation. If there is a spinning top followed by a continuation of the prior trend, you will be glad you waited for confirmation.