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To: Mark[ox5] who wrote (843)	1/23/1998 2:48:00 AM
From: Doug R	Respond to of 3351

Markox5, First, he is assuming that he has calculated the amount of overhead right. Under that assumption is another that those who bought higher than 7 1/8 want to sell at that price. Then he gives a long-term (?) target of about a point as measured from high bid to low ask?? As far as envelope channels, if every stock obeyed them, no stock would ever go up. When a stock moves up, so does the envelope. It is a trailing measure. I agree with him that there was alot of selling today but unless a trading log is provided, he's just geussing as to the ratio of buys to sells. Check out the post to which he is responding. I think he was just being a bit defensive. Heck, I do it at times too. We're only human. I was trying to decide whether or not to wait until Friday's close to run it through the routine again. Because the weekends add a bit more uncertainty psychologically, Friday closes have more info in them. If I have time tonight I'll see what changes have occurred in the very, very short-term. Today had no affect on anything more than that. Doug R