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Clyde I do studies on runs. I measure how many days a security moves up
or down. I use the change from close to close. I take the results and
sort them in a frequency distribution table, using absolute positive and
negative run days as the x axis. This gives an "actuarial table" for the
life expectancy of a securities move. In the attached OEX gif you will
see that from 1/2/98 to 2/3/200 the OEX never continuously went up more
then 8 days in a row and it never went down more than 5 days in a row
(close to close basis). Most of the activity is from up 4 days in a row
to down 3 days in a row.
Ron
Attachment Converted: "f:\eudora\attach\runs.gif"
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