Hey Cherrygal,
The "stupid chart", as i like to call it, doesn't take into account muscle and fat ratios. That means that a very muscular but lean person may be classified as overweight but, obviously, there is no need for them to lose fat!
I'm 5'3.5" and 130lbs! I've also been weight training for 6 years...and i wouldn't call myself overweight.
In response to your weight fluctuating - this happens everyday...it's just water weight. I can weight myself in the morning and be 3 pounds heavier by night. The best thing to do is weigh yourself at the same time each day...or don't weigh yourself at all. How you look and how your clothes fit is a much better indication of how your body is changing...remember that the scale only tells you how much you weigh. It doesn't tell you how much of your weight is fat, muscle, bone...
Happy training!
Vanessa
A pic of me OFF-SEASON (lol!)