Wednesday, April 30, 2008

China Oil Fields Clone Inverted Hammer Doji Candlestick Charting Pattern

Since the formation of the clone shooting star doji candlestick pattern on 24th April 2008 there has been 3 down bar candlesticks. Now a similar candlestick to that formed on 24th April 2008 has appeared signaling that a potential bottom may be forming. This candlestick looks like a clone inverted hammer doji candlestick charting pattern. Expect sideways trading the next few days until a clearer candlestick bar forms. Any upward move will probably be resisted by the 20 days EMA resistance line followed by the 50 days EMA resistance line. Expect strong resistance at the horizontal blue line 53 to 53.5 cents band. A breakout above this resistance band will propel price towards 58.5 cents and may challenge the gap resistance at 61.5 cents. Conversely, any weakening will meet immediate resistance at 41 to 40 cents support band. Support failure here may retest 37 cents support followed by 35 cents. If this support does not hold expect a challenge on 32 cents mid March 2008 low.

Cosco 30mins chart surrounded by trendlines

An early upthrust was blocked by the blue support turned resistance line. Price now under pressure by the black downtrend line. Breakdown below $3.14 to $3.13 may retest previous low at $3.05 . If this support does not hold a breakdown below $3.04 will see a retracement towards the red downside resistance turned support line. Any price rebound will meet immediate resistance at 20 EMA line followed by $3.20 to $3.18 resistance band . Clearing this resistance band will propel price towards 50 EMA resistance line and challenge the blue support turned resistance line for the third time .

Candlestick Charting History

The Japanese began using technical analysis to trade rice in the 17th century. While this early version of technical analysis was different from the US version initiated by Charles Dow around 1900, many of the guiding principles were very similar:

  • The "what" (price action) is more important than the "why" (news, earnings, and so on).
  • All known information is reflected in the price.
  • Buyers and sellers move markets based on expectations and emotions (fear and greed).
  • Markets fluctuate.
  • The actual price may not reflect the underlying value.

According to Steve Nison, candlestick charting first appeared sometime after 1850. Much of the credit for candlestick development and charting goes to a legendary rice trader named Homma from the town of Sakata. It is likely that his original ideas were modified and refined over many years of trading eventually resulting in the system of candlestick charting that we use today.

Option Contract specifications

Every financial option is a contract between the two counterparties with the terms of the option specified in a term sheet. Option contracts may be quite complicated; however, at minimum, they usually contain the following specifications:[3]

  • whether the option holder has the right to buy (a call option) or the right to sell (a put option)
  • the quantity and class of the underlying asset(s) (e.g. 100 shares of XYZ Co. B stock)
  • the strike price, also known as the exercise price, which is the price at which the underlying transaction will occur upon exercise
  • the expiration date, or expiry, which is the last date the option can be exercised
  • the settlement terms, for instance whether the writer must deliver the actual asset on exercise, or may simply tender the equivalent cash amount
  • the terms by which the option is quoted in the market, usually a multiplier such as 100, to convert the quoted price into actual premium amount


It's a Small World After All

At the nanoscale, objects are so small that we can't see them -- even with a light microscope. Nanoscientists have to use tools like scanning tunneling microscopes or atomic force microscopes to observe anything at the nanoscale. Scanning tunneling microscopes use a weak electric current to probe the scanned material. Atomic force microscopes scan surfaces with an incredibly fine tip. Both microscopes send data to a computer, which can assemble the information and project it graphically onto a monitor

[source: Encyclopædia Britannica].

Ribosomal RNA (rRNA) and Transfer-messenger RNA (tmRNA

Transfer RNA (tRNA) is a small RNA chain of about 80 nucleotides that transfers a specific amino acid to a growing polypeptide chain at the ribosomal site of protein synthesis during translation. It has sites for amino acid attachment and an anticodon region for codon recognition that binds to a specific sequence on the messenger RNA chain through hydrogen bonding.[20]

Ribosomal RNA (rRNA) is the catalytic component of the ribosomes. Eukaryotic ribosomes contain four different rRNA molecules: 18S, 5.8S, 28S and 5S rRNA. Three of the rRNA molecules are synthesized in the nucleolus, and one is synthesized elsewhere. In the cytoplasm, ribosomal RNA and protein combine to form a nucleoprotein called a ribosome. The ribosome binds mRNA and carries out protein synthesis. Several ribosomes may be attached to a single mRNA at any time.[19] rRNA is extremely abundant and makes up 80% of the 10 mg/ml RNA found in a typical eukaryotic cytoplasm.[22]

Transfer-messenger RNA (tmRNA) is found in many bacteria and plastids. It tags proteins encoded by mRNAs that lack stop codons for degradation and prevents the ribosome from stalling.

Satellite DNA

Satellite DNA consists of highly repetitive DNA, and is so called because repetitions of a short DNA sequence tend to produce a different frequency of the nucleotides adenine, cytosine, guanine and thymine, and thus have a different density from bulk DNA - such that they form a second or 'satellite' band when genomic DNA is separated on a density gradient.

Types of satellite DNA

Satellite DNA, together with Minisatellite and Microsatellite DNA constitute the Tandem repeats.

Some types of satellite DNA are:

Type Size of repeat unit (bp) Location
α (alphoid DNA) 171 All chromosomes
β 68 Centromeres of chromosomes 1, 9, 13, 14, 15, 21, 22 and Y
Satellite 1 25-48 Centromeres and other regions in heterochromatin of most chromosomes
Satellite 2 5 Most chromosomes
Satellite 3 5 Most chromosomes


A repeated pattern can be between 1 base pair long (a mononucleotide repeat) to several thousand base pairs long, and the total size of a satellite DNA block can be several megabases without interruption. Most satellite DNA is localized to the telomeric or the centromeric region of the chromosome. The nucleotide sequence of the repeats is fairly well conserved across a species. However, variation in the length of the repeat is common. For example, minisatellite DNA is a short region (1-5kb) of 20-50 repeats. The difference in length of the minisatellites is the basis for DNA fingerprinting.


Satellite DNA, at least the microsatellite variety, is thought to have originated by slippage of a replicated chromosome against its template.


Microsatellites are often found in transcription units. Often the base pair repetition will disrupt proper protein synthesis, leading to diseases such as myotonic dystrophy.