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To: FJV who wrote (51498)	9/4/1998 1:13:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (2) \| Respond to of 58727

Franco Do you know of a site where you can get the theoretical value? Anyone have an opinion on MER for a swing trade....it had some good swings today the stock price looks like it split...until you look at the chart... how much lower can this sucker go???

To: FJV who wrote (51498)	9/4/1998 9:38:00 AM
From: edward miller	Read Replies (2) \| Respond to of 58727

This is not a hard concept to understand. I don't know why there is so much confusion about this on this thread. The theoretical low is the daily low shown at the end of the day on the quote machine. It is the sum of the lowest trades on each stock making up the Dow for that day, of course weighted since the Dow is a weighted index. The print low is the actual low seen during the trading day AT ANY ONE MOMENT. To explain by example using only one stock, suppose IBM traded in the range 122 1/4 to 118 1/8 during the day. If the print low is at 10:31 EDT and IBM is trading at 119 1/8 at 10:31 EDT, then IBM's contribution to the daily print low is 119 1/8. However, IBM's low trade for the day at 118 1/8 is what is used to calculate the theoretical low for the Dow for the day. The only way you can know what the print low for the day has been is to actually see it on the screen AT THE MOMENT IT OCCURS. You may have access to a source that can tell you, of course, but the quote machines show the theoretical high and low as it is gradually accumulated during the trading day.