Red and blue shifts near compact objects

We show that radiation emitted from material falling toward a black hole or neutron star can be blue-shifted as well as red-shifted. Although the red shift can be arbitrarily large near a black hole, there is an upper limit for the blue shift of 1/2. Material incident toward the poles of a magnetic neutron star can simultaneously radiate red and blue-shifted lines. Near an oblique magnetic rotator, the red and blue shifts will show a sinusoidal variation. Such spectral variations are associated with SS 433.