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Strategies & Market Trends : Steve's Channelling Thread

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To: Kailash who wrote (18303)	6/19/2001 2:11:40 PM
From: Zeev Hed	Read Replies (3) of 30051

Why don't you see us closing down for the day? because it will be a new record of consecutive days the naz is down? By the way, I was asked in a number of PM's what those "boxes" are. It is a simple way to look at a stock's price (or index) progression (or regression). For instance, the Naz since late April until last week was in a box of 2050 to 2250, there was a small excursion above 2250 to 2338 (you could divide this into smaller sub boxes as well), I believe, trading this box is buying when prices approach the bottom of that box and selling near the top. Stock have similar boxes. Sometimes, the boxes are only few days long and sometimes few months. MSFT had a box from $68 to $73 or so, and when that was breached, a new lower box should form. A more detailed analysis takes into account the volume traded in the box, and the max volume per price range determines the top and bottom of the box. Of course, like anything else in this voodoo world, it is not always feasible to make such an analysis, nor are conclusions derived from such an analysis right all the time. Zeev

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