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key determinant in view of volatile markets, page-35

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    I don't know the classic view of this, but even if gaps do tend to fill, it has always appeared to me that the influence tending to fill gaps is proportional to the size of the gap. A gap up of 20 ticks is begging to be filled.

    On the other hand, I would not think that anyone ought to expect a one tick gap to have more than negligible influence, especially after the passage of time.
 
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