Replies to post #79449 on Zeev's Turnips Patch-No Politics (ZEEV)

[leon]

unc, most floor traders use the prior high, low and close to arrive at avg. price; they dbl. that and subtract respective pror high/low to get proj. 1st level of support/resistance. level 2 is level 1 high plus a/p minus level 1 low= level 2 high(reverse procedure for low). less complicated than i'm making it but its early out here(gg). i don't buy/sell per se based on these numbers but its useful to know what many on the floor are looking at and reacting to. LEON