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Strategies & Market Trends : Mu Gamma Lambda

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To: David N. Jones who wrote (343)	6/12/2001 8:15:26 AM
From: Atin	Read Replies (2) of 10077

Actually, posting the link is appreciated and preferable - after all, StockCharts.com does depend on hits to stay in business. Plus it gives users a chance to play with the charts too. Some history related to the 2.38% number. The 2.38% number came from some studies that were done with the soybean futures contract using 1960-1969 data by Davis and Thiel where a 2.38% box size was optimal. It seems to have stuck, but I am not convinced that the 2.38% number is applicable to stocks and stock related indices (or even soybean contracts in the current time frame). But it is close to the usual log number of 2.33% so it is worth a shot. I just end up using the logarithmic scale (a constant 2.33% change in price) since it isn't specific to a commodity. The charts are similar to the 2.38% box size - bearish line acting as resistance for the COMPQ stockcharts.com

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