The last couple of years in Pairs trading, with the experts within 10 feet of me, has brought about many (very many) changes in the way we look at correlated pairs and how to optimize the strategy. Fundamentals, of course. Technicals, somewhat. Analytic ratio's, trading ranges, liquidity adaptations, and frequency has pushed the profit envelope considerably. You East Coast and Gulf Coast guys may want to join us for this. (No comments about the webpage, this is just prelimnary). www.stocktrading.com/aa.html www.stocktrading.com/alabama2007.html All the best, Don