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Strategies & Market Trends : Mu Gamma Lambda -- Ignore unavailable to you. Want to Upgrade?

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

To: David N. Jones who wrote (343)	6/12/2001 12:21:24 PM
From: Jorj X Mckie	Respond to of 10077

David, the 2.38% chart sure does have a nice rounding top characteristic to it. I consider the fact that we can't get a higher low on that chart (or any others) to be ominous. The fact that it is on a double bottom doesn't give me any confidence that the support will hold. I have been trying to post both the link and the chart. I like to give stockcharts the mouse clicks, but it is easier to see just looking at the cut-n-pasted version. All that you need to do to post the P&F charts is use the fixed font option when posting and cut-n-paste the text. Remember that you will need to put hard returns in any additional comments that you make since the fixed font will allow a line to extend the right margin out a significant distance.