Ann: Letter to Shareholders, page-67

Hi, a doji suggests indecision, buyers try to get away, then get pulled back, sellers try to get away, but get bought up, in the end, price hasnt gone anywhere. A repetitious series of dojis cant then be an indicator of anything, bar a sideways channelling movement. There's no fight. There's a lack of interest. If you had 7 days up in a row, then a doji on day 8, then it could be indicating a reverse, and even then, not really, especially if it had a higher high and a higher low. A doji also has importnace if it hits a round number. Say those 7 days in a row took the share price to a dollar, and the high of the doji was eactly on that dollar, impressive doji now. Even further, what if that was the third time it had gone upto that point this year, even more important. And what if after that doji it gapped up at 1.20, now all the people/computers who thought it could go either way with the doji on a dollar, are now all thinking it could keep going. So back to the 7 or 8 closes with a doji. Watching is exactly right, as opposed to doing.
peace