Re: Is it just me, or is the market dead?

["Gary Fritz" <fritz@xxxxxxxx>]

> > Who knows.  I wouldn't expect them to go back to the pre-1997
> > levels of 0.75% ranges.  It's a different world now.
> 
> Well, apparently we're in the pre-1997 levels for some time now
> (since mid-summer), if you do a half-yearly study. 

Yup.  Not to the 0.75% range yet, but...

Other than two spikes around the double bottom in Aug & Oct 2002, 
average daily range has been under 20 handles since 2001.  It's 
been declining steadily all year, and it's currently under **10** 
handles, or < 1% of price.  

On the other hand, that's not all that unusual.  The Range/Price 
value dips down to 1% quite often, even back in the heydays of 
2000.  E.g. at the start of 2000 and in 9/2000 it touched 1%. 

You have to go back to 1996 to get significantly below 1% and 
even to 0.75%.  I'd like to hope we won't get there, but the 
trend is sure heading that way.  In early 1996 the average daily 
ranges were around ***4*** handles........

Gary