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To: MechanicalMethod who wrote (1435)	7/11/2001 5:22:31 PM
From: TechTrader42	Read Replies (1) \| Respond to of 1471

"However, the other suggestion was that I take the 52 week price range and normalize it to values between 1 and 100. I'm still thinking about that one though." I wonder why ole George Lane, the guy who developed stochastics in TA, didn't think of that.

To: MechanicalMethod who wrote (1435)	7/12/2001 8:06:33 AM
From: Arthur Tang	Read Replies (2) \| Respond to of 1471

It takes 52 weeks to make it a trend. Support and resistance horizontal lines(52 weeks) are drawn on the peak point and bottom point. Then you bring the lines closer together at the right side of the curve(the latest support and resistance lines, whatever number of weeks). It is easier to actually look at some charts. Take MWBX or MSEL to see what you can do with two horizontal lines. To discuss support and resistance to price a stock is like going to the supermarket and look at the price of meat. Ir it is $0.99/lb or less you have to buy it. If it is over that price then you feel like buying it is ok(you can take it or leave it). Bottom fishing of a stock is just that. If you love Sirloin steak at $2.99 a pound, you love it even more at $0.99 a pound(unless you worry about why the meat is discounted?). But you can exmine the meat package once it is in your hands. Possesion is 90% of the law. Stock buying? You have to wait for confirmation. and the price may move away from you. It is much more dynamic.