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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: wizzards wine who wrote (6192)	8/23/1998 7:38:00 AM
From: james ball	Read Replies (2) \| Respond to of 34811

Big Preston, I was not saying 100 points was all the market could go up or down, I was saying as a sideline that 100 points is now the average volatility of the Dow JOnes. Yes Friday was 250 or so down at one time and that represented 150 points more than average that day. It will be factored in and a new average calcualted and we might find that the new average is now 100.000004. Fridays action to me was nothing mroe than expiration exascerbating, lets say a 77 point normal down day. Sometimes expiration volatilty happens early in the week and sometimes later, sometimes the last minute of trading. On expiration week we always say to put sell orders on stocks you want to sell two points higher than the market and conversely two points below the market on stocks you want to buy. Expiration week might bring you both orders. Yes the market evaluates all the markets and news except expiration volatility and that is strictly mathematics. You feel we have further to go down, and we don't predict. AS you know we don't have the ball and when it bottoms it bottoms. We are closer to a bottom now than in April we do know that. Tom D