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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (18194)	4/30/1998 8:09:00 AM
From: Tom Trader	Read Replies (2) \| Respond to of 50167

Hi Iqbal--thanks for your response >>On how I determine new levels of resistance I think I have explained this in one of my previous posts to OJ. It is a crude method but has always helped me determine the top of a move within 3 %.<< If you could be good enough when you have the time, to direct me to the post, I would appreciate it. I am only interested in the way you are able to figure out the likely resistance level when a market/stock is in the process of making new highs. I have not been able to do this and know few who are able to do so. But it seems that you have an approach that works. For example, if memory serves me right, you had suggested 1140 as resistance on the S&P June futures, well before it got there -- and you were dead on--and that is certainly impressive. What I would like to do -- if this is a mathematically driven formula--is to back test it on historical data in the context of different markets/stocks and see if there is reasonable validity to the approach--and if there is, then to see how it can be integrated into my trading approach. Even if it is a crude method -- it is something that may be useful. I will be happy to share the results with you or anyone else.