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To: Sun Tzu who wrote (236)	4/14/1999 5:11:00 PM
From: James C. Mc Gowan	Read Replies (2) \| Respond to of 284

Sun: thanks much for breaking down your analysis of trading psychology, I find this aspect of the market fascinating, altho at times bewildering. With the positive report from AMTD, would you recommend a price that could be achieved for any gap up tomorrow AM; perhaps a quick retracement up to 52? I like to look at the difference btw the day's high and low(e.g. today 58/40) and cut it in thirds. So a 2/3 recovery of the range would bring it from the close at 40 to 52, and a 1/3 recovery to 46. This is simplistic,of course, but I have found it a useful rule of thumb Regards James