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Technology Stocks : BORL: Time to BUY! -- Ignore unavailable to you. Want to Upgrade?

To: Sam Scrutchins who wrote (7326)	11/12/1997 10:18:00 PM
From: Jack Gibson	Read Replies (1) \| Respond to of 10836

SAM: I think that you are correct. Mark Haines, on CNBC, every morning goes through the same calculations that you just described. He calculates the "fair value" using the closing price of the futures versus the cash price, and either adds or subtracts that from the current futures price to determine whether the market opens up or down. I think I have it right, but in any case, the market definitely opens up or down depending on where the S & P futures are trading. However, I have observed that the opening almost always has little bearing upon the market's basic thrust of the day. I have been told by several people (my broker, whom I trust a great deal) that the "big boys" don't really get started until around 10:00 AM ( about 1 1/2 hours after opening bell). Then the market begins to reflect a more likely bias for the day. In fact, someone on this thread or the EMC thread also made the same observation. Whatever, your calculations appear to be right. Cheers and luck to all, Jack Gibson