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To: ViperChick Secret Agent 006.9 who wrote (51497)	9/4/1998 1:06:00 AM
From: FJV	Read Replies (2) \| Respond to of 58727

Lisa, Welcome Back. The intraday low, according to Favors, is a theoretical calculation of the day's low on index. I am not positive, but I believe the calculation is the sum of all bids at the moment the print low is posted. For instance, today's print low on the Dow was 7578.46, which is the low for the day on your quote screen. He uses the calculated intraday low ostensibly because at the instant of the print low, the price shown reflects the last trade for each stock, which may or may not bear any resemblance to the bid/ask at the time of "print". It seems pretty esoteric to me, but I suppose I could see the rationale. Sometimes the calculated intraday low can vary 20-30 points from the "print" on the Dow as shown as the daily low by your quote service. Hope this helps. Franco

To: ViperChick Secret Agent 006.9 who wrote (51497)	9/4/1998 8:09:00 AM
From: HighTech	Respond to of 58727

My understanding of "print basis" or "theoretical basis" is that you calculate what the Dow WOULD HAVE BEEN under two assumptions: 1. If you take the actual low for the day of each Dow component, what would have been the DJIA reading 2. If you take the actual high for the day of each Dow component, what would have been the DJIA reading Of course this can never happen all at once because actual highs and lows occur at different times throughout the day. But just for an example, if all the actual lows for each Dow component actually occurred say at the open at the same time, that would be the theoretical (and actual in this assumption) low for the Dow. And if just by chance at the close every single Dow component reached its high for the day, that would be the theoretical high (and actual in this unlikely example) Comments? HiTech