Replies to post #134334 on KAT Exploration Inc (KATX)

[tommer]

Reversal day and what some non chartists on this board scoffed at me about....maybe taking off the monocle would help ones vision I dont know, but a reversal day is a huge point for a beat up penny like this....means it is time to load the boat! I all the signs we are seeing now! And if you guys noticed activity on the board has picked up a lot as well ;) with a lot of new faces including mine!
GO KAtxers!!!

[Cooky]

Here is the definition of a black spinning top.



Black Spinning Top Pattern



BLACK SPINNING TOP
Type: Reversal/Continuation
Relevance: Indecision
Prior Trend: N/A
Reliability: Low
Confirmation: N/A
No. of Sticks: 1



Definition:

The Black Spinning Top is a single candlestick pattern. Its shape is a small black body with upper and lower shadows having a greater length than the body's length.

Recognition Criteria:

1. The real body of the pattern is black and small.
2. The upper and lower shadows are longer than the real body's length.
Explanation:

The market moves higher and then sharply lower, or vice versa. It then closes below the opening price creating a black body. This represents complete indecision between the bulls and the bears. The actual length of the shadows is not important. The small body relative to the shadows is what makes the spinning top.
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Remember that it is only one candle so not to call a pattern,the opening price was above the close of the previous days( gap up) then it closed below that days opening price.. the day was green up a few points but the candle was black because it closed below its opening price, The lower shadow is shorter than the body and that looks more like a star than a spinning top but it is debatable I hope this helps..GLTY!

Cooky