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Strategies & Market Trends : Continuing the IFMX discussion and more...
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To: Robert Graham who wrote (163)9/10/1997 9:54:00 PM
From: Melissa McAuliffe   of 206
 
Bob,
Several comments before I discuss the PSFT chart. I don't know how many years experience you have nor do I care. All I know is that you are someone who has alot of knowledge about a number of things and share it willingly. Richard Estes may have alot of knowledge but is at some level in the stratosphere with respect to helping me and others like myself. And to benefit from anything he has to share requires alot of knowledge to start with. He is probably very good for someone like you but for me that thread is useless. We really should think about starting a new TA thread for real beginners which covers the basics for people who really want to learn but just aren't at their level because I know there are other people on that thread who are as lost as I am. Anyway---to the real topic here...

Sometimes the simplest suggestion makes a big difference, i.e. the weekly charts. Much easier to see things but still wish I could click on a price level and have a line appear across the screen. Regardless, I have come up with the following for key support levels over the last 12 months: 56, 52, 47.5, 44 and 38. It wasn't until I did the weekly chart I could clearly the 56 without knowing to look for it. 56 is also a resistance level and it appears that 43/44 is also. My numbers are somewhat rounded here because of the way the numbers appear on my chart. Also appears that 52 is another support level that became resistance. Hopefully all this is accurate? I cannot look at this chart anymore tonight !!
Melissa
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