Well I did. LOL
I trade that pattern religiously. If there is a more reliable chart pattern that can be measured and traded, I'd like toknow about it.
Basically, what it is, for the folks not up to speed about a hammer, it is a pattern that indicated that a low of significant dimensions happened but it got nowhere. Down it goes but there is no muscle and it retraces back up.
So what does that say about the company stock? It means, usually, that it is not going to be successfully pushed over the downside edge, thats what.
To decide if there is a chance to make money, you have to use other indicators, but the hammer shows up and its a nice opportunity oftentimes.
And anyway.... in the face of the assertion that the chart was looking bad, I felt a little dose of truth about the stupidly tiny 5000 fat finger shares at .61 being tho only downside shares to have traded was called for. A tiny trade at a gap down of .61 and no others even close to that price level. Duh.
Imperial Whazoo
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