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To: Tony D. who wrote (6435)	1/15/1998 1:00:00 AM
From: Douglas Webb	Respond to of 14162

Does the closing have to be ouside the envelope for two consecutive days to form a new envelope? No, just one close will do it. The number 'two' you're thinking of comes from the high-sensitivity chart, in which the previous two bars define the envelope. Typically three bars are used instead, which is why it's called a Three Line Break chart. But do you think we hit 22.50 by next Friday? I'm not sure, but I believe eranings are due on the 23rd. Even if we had hit $20 today, $22.50 by this friday (expiration day for January) would have been a long shot. I think you're right about the earnings report on the 23rd; we'll probably have a pretty good monday on the 26th, and be in the mid-$20's for the last week of January. Where we go from there I don't know. Doug.