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To: James F. Hopkins who wrote (2092)	12/22/1998 3:58:00 PM
From: SteveG	Respond to of 17683

Mark Haines - RE: Bollinger!! I suspect you are interested in the daily high-low range or the standard deviation around each point (27 days) of Bollinger's "27 year averaged" line. The averaged year-line that Bollinger presented did NOT include any measure of the variability of the points that comprise the line - which as you (Mark) suggested, could be quite wide - and perhaps best represented by an envelope - though I suspect the envelope would overshadow the trend line. In other words - the trendline may not have a very high correlation coefficient (Pearson's "r") to the 27 individual daily data points that construct the 27-year-averaged line. afterthought - next time he is on, ask why he uses a simple moving average versus an exponential moving average for computing Bollinger Bands. Tx