wednesday, page-60

We had a discussion a while back about what were the correct figures at our low as there was a big descrepancy of either 3135.5 or 3073.1 for XJO.

It seems to happen almost exclusively at major turns and the 1987 top is no exception.

I maintain the SPI high was 2364 (or even 2368) on Oct 6 1987.

I know some quote 238something in Sep.

I do know on the SPI file I downloaded I have changed Sep 29 to just OHLC at the same number about where the previous day close was.

Why? At least I think I must have changed it or maybe it came that way.

I presume that must be the day some have that 2880ish number.

Back then computers didn't exist for most of us and I used to hand chart and I certainly didn't have Sep 29 as any sort of high. 1987 was such a vivid time and creating charts by hand is a very good way to never forget.

In fact it makes no sense when you look at the XAO chart which had a small range day before that was higher, Sep 29 which was a small range day a little lower and the following day which was a small range day a little lower.

So it makes no sense that Sep 29 would have a high 80 pts higher that that of the days either side on the SPI itself.

Back then quarterly expiration was the last day of the month I think, although I am open to the idea of it being one day earlier maybe.

The only way I can see the 1987 SPI high of 2380ish is someone taking the Dec contract instead of the spot (Sep) contract.

Yes it was a long time ago but prices at major turns are always important or so I reckon, lol.